Illustration by Raj Verma
With the current financial year nearing its close, it s time to take stock of your tax-saving investments. In case you opt for the old tax regime, you can claim deductions of up to Rs 1.5 lakh in a financial year under Section 80C. There are other sections also to help you reduce your tax outgo. Do your tax planning activity at the beginning of the financial year to avoid last-minute hiccups. But in case you are late, there s still time to invest and save taxes. A look at the options available for last-minute investors.
Section 80C: The Most Popular
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With your investment horizon of five to 10 years and suboptimal returns generated by current fixed income products, which fail to beat inflation, I would recommend you to invest in the equity markets.