Income Tax, March 16 -- Last two weeks are left to invest in tax saving instruments to be able to claim tax deduction for FY 2024-25. So, if you have opted for the old tax regime or plan to opt for it at the time of filing your tax return - you should invest in tax-saving schemes prior to March 31, 2025.

Notably, if your tax calculation in the new tax regime is lower than in the old tax regime (even after including tax deductions) -- it is recommended to continue with the new tax regime and not bother much about investing in saving schemes merely for the sake of saving tax.

I. Deadline: Tax payers must invest in tax-saving schemes before March 31 to be able to claim tax deduction for FY 2023-24. Meanwhile, if you invest after March, it ...