As a parent, it is likely that in this exam season, you must have urged your child to study consistently throughout the year and prepare well in advance to avoid the stress and panic of cramming at the last minute.
But, do you follow the same advice when it comes to your tax planning? Or do you leave it till the end of the financial year to make all your tax-saving investments?
It’s more likely that you would have done the latter, that is, waited for the last quarter of the financial year – or even till March -- to do your tax planning. This may result in investors failing to select the most optimum tax-saving investment options that would suit their investment goals and profile, however. Starting this April, redeem this habit. Investors with an aggressive risk appetite can look at investing regularly via systematic investment plans (SIPs) into equity-linked savings schemes (ELSS) to generate higher inflation adjusted returns over the long term.
Why invest through the year?
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