March 31—the last date to make tax-saving investments in a financial year—has just passed by. Typically, taxpayers rush to make such investments to claim tax breaks under Section 80C of the Income-tax Act before the financial year-end.
However, this need not be the case at all—you can make these investments around the year and avoid the last-minute hassle. Yet, many wake up to the realisation that they are running out of time only when the May 31 milestone approaches. You can steer clear of such misadventures by putting in place a financial plan which includes tax planning too, right at the beginning of April, the new financial year.
