Expert Speaks :
Tax planning calls for starting early because it offers several benefits. When you start early, you get the time to choose your investments wisely so that you not only save tax but also build wealth. This is another sign of effective tax planning. Starting early also gives you the time to explore deductions and exemptions other than Section 80C and reduce your taxable income further. Sound tax planning also involves careful assessment of your financial goals, financial state, and risk appetite, so that you can devise a suitable tax strategy. Furthermore, it requires you to keep your documents in order so that claiming your deductions and exemptions is a smooth process.
