Most of us make our tax saving investments during the last quarter (January to March). Did you know the advantages that you get if you do them right now? Read on to know more:
- Avoid last-minute stress: The deadlines that your company has given to submit your tax saving proof might be during December-January. Instead of planning your tax saving investments when you’re closer to your deadlines, do it now so that you save yourself from the last-minute rush and start your 2019 afresh.
- Save your salary from substantial deductions: Your HR usually deducts a certain amount from your salary during the months of January, February, and March in order to adjust the tax liability for the year. To get your full salary, complete your tax saving investments now and submit the documentation immediately.
- Make your money grow more: If you make last-minute investments, your money would lie idle in the bank account till then. Instead, making an early investment will give your money more time to grow. Don’t just save tax but also grow your wealth at the same time.
- Choose the best option: Faced with a deadline, many people just pick the first tax saving option they find. Starting now, you can pick the one that is best. Tax Saving Mutual Funds, not only provide the shortest lock-in period compared to the other tax saving investments but also have been delivering the best returns.
So, start your tax saving early and don’t wait for the last minute. :)