Filing your Income Tax Return (ITR) isn’t just a legal obligation—it’s an opportunity to reduce your tax outgo and claim the deductions you deserve. Whether you’re a first-time filer or a working professional trying to optimise your savings, understanding how to claim your tax deductions can result in significant financial benefits.
At FilingPool, we help simplify income tax return filing in Delhi for working professionals. Our dedicated team of ITR filing consultants in Delhi ensures that salaried employees don’t miss out on any benefits, exemptions, or deductions. From choosing the right form to availing tax deductions under 80C, we guide you every step of the way.
What is a Tax Deduction?
A tax deduction is a specific amount of money that you are legally allowed to subtract from your total taxable income. This reduces the portion of your income that is subject to tax, effectively lowering your overall tax liability.
For example, if your annual income is ₹10 lakhs and you claim ₹2 lakhs in eligible deductions, you’ll only be taxed on ₹8 lakhs. Common deductions include expenses or investments made in areas like health insurance, education loans, provident funds, and home loan repayments.
Claiming tax deductions correctly while filing your ITR in Delhi not only saves money but also ensures compliance with current tax laws.
Why Tax Deductions Matter for Salaried Employees
If you’re a salaried person in Delhi, you may already be paying TDS via your employer. However, your responsibility doesn’t end there. Claiming the right deductions can help reduce your total taxable income and maximise refunds. It’s essential to work with a CA for income tax return in Delhi who can evaluate your profile, suggest the right investments, and help you claim everything legally permissible.
Key Tax Deductions to Claim Before Filing ITR
Here’s a rundown of the most common and high-impact deductions:
- Section 80C – Investments and Payments (Up to ₹1.5 Lakh): Under Section 80C, you can claim deductions up to ₹1.5 lakh for eligible investments and payments such as contributions to the Employee Provident Fund (EPF), deposits in the Public Provident Fund (PPF), payments made towards life insurance premiums, investments in Equity Linked Saving Schemes (ELSS), and principal repayment of a home loan.
- Section 80D – Medical Insurance Premiums: Section 80D provides deductions on health insurance premiums paid for yourself, your spouse, children, and parents. If you’re paying premiums for senior citizen parents, you’re eligible for an additional deduction under this section.
- Section 24(b) – Home Loan Interest (Up to ₹2 Lakh): This section allows a deduction of up to ₹2 lakh on the interest paid on home loans, provided the house is self-occupied. It’s a key benefit for salaried individuals with home loans.
- Section 80E – Education Loan Interest: You can claim the full interest paid on education loans under Section 80E, applicable for loans taken for higher education for yourself, your spouse, children, or a legal ward.
- House Rent Allowance (HRA): If you’re living in a rented house and paying rent, you can claim HRA as a deduction, provided it’s part of your salary and you can furnish valid rent receipts.
- Standard Deduction – ₹50,000 for Salaried Individuals: All salaried employees are entitled to a flat ₹50,000 standard deduction, automatically applied during income tax computation, which reduces your overall taxable income.
Latest Tax Updates for FY 2024-25 (AY 2025-26)
- Standard Deduction now allowed under New Tax Regime
- Higher 87A rebate: Full rebate available on taxable income up to ₹7 lakh
- Pre-filled ITR forms: Easier filing with salary, interest, and tax details auto-populated
- Improved AIS/TIS statements: Track your tax information more accurately
These updates make it even more important to seek guidance from a tax filing expert in Delhi to ensure nothing is overlooked.
Online or Offline? Best Way to File ITR in Delhi
While online platforms have made self-filing possible, it’s still advisable to consult a Delhi income tax consultant to:
- Choose the right tax regime
- Avoid missed deductions
- Minimise chances of IT notices
Online ITR filing in Delhi through FilingPool ensures your deductions are correctly claimed and verified by a professional.
Benefits of Filing ITR with All Deductions
- Higher refund eligibility
- Legal proof of income for loans or visas
- Prevent future tax liability surprises
- Financial planning aligned with legal tax saving
Looking for the best CA in Delhi for ITR? FilingPool helps you get the maximum benefit with minimum effort.
How FilingPool Helps You Claim Every Deduction
- Complete profile assessment
- Documentation assistance
- Regime comparison (Old vs New)
- Expert filing & review by senior consultants
Our team makes sure you file confidently, accurately, and with every rupee saved under legitimate provisions. Whether it’s ITR for salaried person in Delhi, freelancers, or senior citizens, we handle it all.
