With the current financial year’s end approaching, there is precious little room for procrastination. According to various research reports, less than 3% of the Indian population (~35 million taxpayers) bears the total income tax burden of the country, of which, 89% fall in the tax slab of 0-5 lakh.
You might have a cough up high amounts if you fail to plan your taxes judiciously. Note that any delays in implementing your tax plans invariably result in non-accrual of tax benefits.