No, you can under old regime also

Dear Siddharth Jain,
You can choose any regime which is beneficial to you.
But one thing needs to remember that in case you have business income you can swich the tax regime one once.
For further consultation you can reach us at ca.rahuldwivedi@gmail.com or 9004485377

you have to pay capital gain in india

maximum 150000 for principle part in 80 c and Rs 200000 in 24 (b) for interest part

No limit for rented house and Rs. 200000 for self occupied house

Maximum 1.5 lakh for principal part in section 80C and no limit for interest for rented house.
For more details feel free to contact me at canamanmaloo@gmail.com

Functionally, there is nothing common between Equity Linked Savings Schemes (ELSSs) and Unit Linked Insurance Plans (ULIPs). It is a basic rule to not mix up insurance and investments. ELSSs and ULIPs are two different products that serve different purposes. While a ULIP is a mix of life insurance and investment offered by life insurance companies, ELSS is an equity fund. Both are tax-saving investments, but the similarity ends there.
ELSS have predictable costs, easily understandable returns and are transparent about how the fund operates and what it invests in. Not so with ULIPs. From the premium paid, the insurer deducts charges towards life insurance (mortality charges), administration expenses and fund management fees. So only the balance amount is invested. ULIPs have high first year charges towards acquisition (including agents commissions). In order to evaluate the return generated by a ULIP and thus compare it with another investment, you need to take into consideration only that portion of the premium that is invested in a fund. However, you cannot access this information very easily.

In a ULIP, the mix of investment and insurance prevents savers from having a clear cost-vs-benefit understanding of either of the two components. Further, your money is locked for a longer period of time. Thus, you sacrifice both transparency and liquidity. In theory, ULIPs have a five year lock-in, but since terminating the policy early affects returns adversely, in effect it is a ten-to-fifteen-year commitment. The high costs, difficulty in evaluation, lack of transparency and low liquidity doesn't make ULIP a suitable investment vehicle.

On the other hand, ELSS funds provide both tax-saving benefits as well as higher returns from equity investments, and so are preferable as an investment option. If you also want a life cover, go in for pure term insurance rather than a ULIP.

Dear Sudhir,
As per IT act, Long term capital gain(LTCG) will be considered if you hold your property for more than 24 months. And as per the facts provided by you, Land has been purchased on Feb,2017 and will be sell in the month of June,2019. So it will be LTCG.
For further discussion you can drop your query on cashashank2106@gmail.com

Since you are selling the house and house was completed in April 2018 there it would be short term capital gain as its been 15 months of such construction and to qualify as a long term capital asset you need to hold the asset for 24 months.
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