80c Deductions News Today

As a first step, you should inform his company that he wants to opt for the old tax regime. Several deductions available to you will not be considered under the new regime. Sudhir Kaushik of TaxSpanner.com tells readers how they can optimise their tax by rejigging their incomes and investments.

If the aggregate amount of deductions and exemptions that you are eligible to claim under the old tax regime is more than the breakeven threshold that matches the income level, then you would be better off sticking to the old tax regime. Otherwise, it is better to move to the new tax regime