Old or new, 80C is still useful

The last quarter of the financial year used to be a frantic rush for making tax-saving investments under Section 80C, with many taxpayers scrambling to reduce their taxable income. However, the government's shift towards the new tax regime - offering lower tax rates but eliminating popular exemptions like 80C - has led to a fall in the tax-saving rush. In fact, around 72 per cent of taxpayers have already embraced this new regime, as per government data.

This article was originally published on February 15, 2025.