As most tax-saving investments will be of any help in reducing one’s tax liability, in all probability, it will leave taxpayers with the investible amount that doesn’t get locked up in the tax-saving investments as in the old tax regime. But does that mean taxpayers will no longer save money? Investors who have been investing in tax-saving mutual funds or ELSS have to think about investing in an equity-linked savings scheme still makes sense in the new tax regime.
In the new tax regime, the individual taxpayers will not be allowed to take benefit of certain exemptions and deductions available in the Income Tax Act,1961. Although optional, the taxpayers will weigh the advantage of sticking to old regime or to opt for the new tax regime.
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Esta historia es de la edición April 2020 de Investors India.
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ASK THE EXPERT
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