Out, You Taxing Year!

Time and taxes wait for none! Yes, it’s a relief that 2020 is finally behind you, but its shadows still trail you… and exorcising those ghosts will be a special kind of task. We are left with less than three months to go before tax-saving investments are to be completed: the tax shaman must do his job before March 31! It’s going to be different this year, and you know why: 2020 was a rollercoaster ride for many. Some had their salaries reduced, others lost jobs, and many had to part with mini-fortunes to save kith and kin from COVID-19. Finances are in a mess, and consequently, so is tax and investment planning for 2020-21. But it’s not an occult science, and let’s look at exactly how things are different this time. When normalcy prevails, you try to maximise tax benefits by spreading your investments through the year. That steady, planned approach helps...