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Two weeks remain to invest in tax-saving instruments

livemint.com —

Taxpayers have two weeks left to invest in tax-saving instruments for the financial year 2024-25. Investments must be made before March 31 to qualify for deductions under the Income Tax Act. Options for tax-saving investments include schemes under sections 80C, 80CCC, 80CCD(1), and 80G. The maximum deduction limit for these investments is ₹1.5 lakh. Taxpayers must decide between the old tax regime, which allows for these deductions, and the new regime, which does not. An income tax calculator on the tax department's website can help evaluate the best option.

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