Year-end tax planning strategies

Smart moves to make before the financial year closes, under both tax regimes.

Tax planning works best when it is part of your financial plan, not a last-minute rush in March.

Choose your regime

Compare the old and new tax regimes based on the deductions you actually use. The new regime has lower slab rates but fewer deductions.

Under the old regime

• Section 80C: ELSS mutual funds, PPF, EPF, life insurance premiums and principal repayment on a home loan.
• Section 80D: health insurance premiums for yourself, your family and your parents.
• NPS: additional deduction under Section 80CCD(1B).

Capital gains

Review your portfolio for long-term capital gains within the annual exemption limit, and consider harvesting gains or losses where it makes sense.

Tax rules change frequently. Please consult your tax advisor or talk to us before acting.