Individuals opting for either of the two tax regimes should plan their tax savings at the beginning of the year. This allows you to spread over your tax-friendly investments across the duration of the year and maintain consistency in your saving habits. If you opt for the old regime, you can avail of the deductions under section 80 C to 80 TTB, apart from the exemptions of the various allowances, like house rent, transport, child education etc. In the new regime, tax savings are mostly limited to the exemption of investment incomes like LIC, PPF, NPS, leave encashment etc. and employerʼs contribution to EPF and NPS. Do note, although tax-saving opportunities are lower in the new regime, the lower tax rates compensate for this loss of opportunity. Deciding on your tax savings in February and March cause unnecessary strain on your monthly finances and may lead to poor investment decisions, particularly in the case of the old regime. Besides, if you opt for any monthly contribution schemes, deciding at the onset of the new financial year ensures that you complete all 12 contributions that can be made during the year.