Yes, certainly. Though FM has provided an optional new tax regime, an individual has to weigh the old tax regime and new tax regime, to optimize tax savings and creation of wealth through investments for meeting his future needs.
Tax planning is one of the important aspects of financial planning. Taking control of your own finances is a key to wealth creation. This can be achieved by taking tax benefits (deductions/exemptions) available under the Income tax law, which further leads to creation of an asset pool for your future.
The investment in life insurance, pension and health insurance is imperative to fulfill your financial goals such as children’s education, marriage, your own retirement needs, life and health eventualities of your family.