Updated Mar 09, 2021 | 06:04 IST Taxpayers must remember that tax deductions/exemptions are only available under the old tax regime. People who have already opted for the new regime will not be able to claim any deduction or exemption. Searching for tax saving options? Here's a complete guide for you New Delhi: Tax planning is one of the most important financial tasks every financial year. Proper tax planning helps you reduce your tax outgo while investing in instruments that will offer you some benefits. The last date for making tax-saving investments for the financial year 2020-21 is March 31. This is your last chance to maximise tax benefits under various sections, unless the finance ministry extends the deadlines again like it did the last time due to the COVID-19.