In the new tax regime, 80C deductions have been done away with. The insurance sector which mainly thrived as a tax planning instrument, will slowly face a downfall.
This move is not to discourage the insurance sector, but to enable the younger tax payers to make choice, out of want and not out of compulsion. Instead of getting traditional insurance policies or endowment policies, the youngsters can focus on getting term insurance, which is highly beneficial if done at an early age. Also, with this move, the taxpayers have the choice to invest in more liquid and better growth investment avenues like low cost mutual funds and index Funds.
Know your investment avenues better, and be a Fintelligent Investor.
Music: Ice Tea
Musician: Not The King
Edited on : inshot
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