Divya Delhi: Will the Finance Minister abolish 80C exemptions and the Old Tax Regime? Will the New Tax Regime be the only one with reduced slabs, income tax rates, and no concession? Nirmala Sitharaman is reportedly planning to combine key elements of both tax regimes into one. After 80C, 80D, and HRA discounts are eliminated, this tax structure may arise. Preventive health checkups are deductible under 80D for Rs 5,000. Individuals can claim this deduction for themselves, their spouses, dependent children, or parents up to Rs 25,000. The employee's actual HRA can be discounted by the taxpayer. In non-metro cities, it's 40% of the wage; in metro cities like Mumbai, New Delhi, Kolkata, and Chennai, it's 50%. Actual rent should be under 10% of pay. According to  reports, the new tax regime may eliminate all or most of existing benefits. There are grounds to eliminate the previous tax system. Due to low tax rates, more taxpayers are choosing the new tax regime. There are grounds to eliminate the previous tax system. Due to low tax rates, more taxpayers are choosing the new tax regime. However, the Finance Minister may extend large income-tax cuts, especially for house loans. If Nirmala Sitharaman grants taxpayers a reprieve in the existing tax regime, she may raise the house loan interest tax deduction maximum from Rs 2 lakhs to Rs 5 lakhs. She can also increase Section 80(C) deductions from 1.5 to 5 lakhs. Analysts believe much relies on whether the Finance Minister integrates the twin tax regimes or keeps the current arrangement for now.