New Delhi, March 6 -- For those who have opted for old tax regime you have to make certain payments in order to claim tax benefits under Section 80 C upto Rs. 1.50 lakh. Some of the payments are in the nature of pure expenses like premium payments for tem life insurance or tuition fee for your children. While there are certain payments which are in the nature of investments and you get back the money with accretion on it after the lock in period is over. In this article I shall discuss whether, when and to what extent you can use the payments in the nature of investments made in the past for tiding over your temporary credit crunch.

Under the provisions of Section 80 C you can deposit an amount upto Rs. 1.50 lac in your own account or ac...