A good example of this is the fact that many people get around to making their tax saving investments only in March, when they have the whole year to do so. In the process, they end up burning their fingers and investing in the wrong product. Similarly, from the end of the financial year in March to end July, there is more than enough time to file the income tax return. In case of the salaried, Form 16 is not immediately available. But by early to mid-June, it does become available in most cases. That still leaves a minimum of six to eight weeks to file the return. Nonetheless, many people end up postponing it to the very end. This also stems from the fact that in many cases people have very little understanding of how the income tax system works in their specific cases. Things can get complicated on this front, but for individuals at the beginning of their career who largely make money through their salaries, they are quite simple. Hence, it makes sense to have a basic understanding of taxes as soon as one starts one’s career. Over the years, as the income increases and the system gets complicated due to different kinds of incomes being earned, things can always be learnt incrementally. Even after hiring a chartered accountant (CA) to file the tax return, there is no harm in understanding how the system works. For one, even CAs make mistakes.