Can I make changes to my tax savings plan after I have enrolled?
Curious about tax savings
Yes, you can make changes to your tax savings plan after you have enrolled. However, the ability to make changes may be limited depending on the investment option you have chosen. For example, if you have invested in a taxsaving fixed deposit, you may not be able to make any changes until the deposit matures.
If you have invested in a taxsaving mutual fund, you can make changes to your investment at any time, subject to certain conditions. You can switch from one mutual fund scheme to another, or change the allocation of your investment across different funds. However, some mutual funds may have restrictions on the number of times you can make changes in a year.
In any case, it is always advisable to consult with a financial advisor before making any changes to your tax savings plan. They can help you assess the impact of the changes on your financial goals and advise you on the best course of action.