As the March 31, 2025 financial year-end approaches, taxpayers under the old income tax regime should focus on tax-saving investments to minimize liabilities. Here are five effective last-minute tax-saving options:   Equity-Linked Savings Scheme (ELSS) – A tax-saving mutual fund with a three-year lock-in period, offering deductions under Section 80C for investments up to Rs 1.5 lakh, along with potential high returns from equity marke

The Income Tax Bill 2025 has raised concerns among taxpayers regarding refund eligibility if an Income Tax Return (ITR) is not filed before the due date. While the Income Tax Department (ITD) has clarified that there is no change in refund provisions, tax experts have pointed out inconsistencies that may impact individual taxpayers.   IT Department’s Clarification on Refunds