EEE INVESTMENTS

Tax-saving investments FY 2023-24: The deadline for tax-saving investments this fiscal year is coming up, ending on March 31, 2024. When choosing an investment, consider factors like lock-in periods, withdrawal conditions, taxes on interest, and maturity amounts. For high-income earners, the taxability of returns is important. Taxable returns are added to your income and taxed at higher rates. So, investments that offer tax-free returns can greatly increase your after-tax earnings.

In the fiscal year 2023-24, employed individuals can choose between the old tax system and the new one. The old tax regime offers deductions and exemptions, while the new one has lower tax rates but fewer deductions. It's important to compare your tax liabilities under both systems before deciding. If the old system is better for you, it's vital to pick the right tax-saving options.

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