New Delhi, Feb. 16 -- In 2023, new tax regime became a default regime which means the taxpayers must opt out of the new tax regime to be able to claim tax exemptions given under sections 80C, 80D and 80G, among others.

The provision under section 80C enables taxpayers to claim deduction for investing in various financial instruments such as small savings schemes, public provident fund (PPF), life insurance premiums, and others.

These tax instruments also include equity linked savings scheme (ELSS) for which taxpayers are typically given income tax deduction of upto Rs.1.5 lakh.

With no such exemption offered in the new tax regime, should investors stop their investment in equity linked saving scheme?

ELSS mutual funds invest at least ...