Do you need to wait upto Dec for investing in tax saving schemes ?

Do you need to wait upto Dec for investing in income tax saving schemes ?

One of the problems I used to face along was, worrying about the investments to be done for income tax savings during Jan to Mar. Once we get into Dec, I used to fear about the huge amount to be accumulated to invest for tax savings.

I was only wondering how can I accumulative such big money in a month or two during Dec/Jan. I used to break the chit / chitty (later I found that Chit was not a profitable for me) or break a good fixed deposit to do investments for tax savings.

It happened three years back, when I was thinking why the hell I need to worry this in Dec and why not earlier than this and why not from Apr. This thought has changed my mindset and I worked towards that. For the last 2 years, I started investing may not be exactly from Apr, but earlier than Dec. I started investing in best tax saving mutual funds, top yielding tax saving bank deposits, PPF on a regular basis and stopped worrying about this in Dec.

Conclusion: My advice is, do not wait for Dec/Jan to start investing in best tax saving schemes. Do your homework in Apr and start investing early so that you need not shift from other investments to invest for tax saving purpose.

Readers, what other strategies are you adopt for effective investments in tax saving schemes ? Please give your comments

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