Thanks and one more query

Many thanks for all who responded to my queries. Also, if I did not invest in anything last year, is there any way to invest now and avail of the deduction for 2014-15? more  

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it would be better to identify a Financial Adviser / Planner whom you can identify in your place and discuss your investment plans and Income tax Liability ; you can act after you have understood and convinced about the advise. more  
Investing only to save tax is a very invalid logic. People most often mix up between say insurance and investment. If insurance is the objective, then term policy or pure insurance as they call it gives large cover on smaller premium. So the two don't match.
investment for long term focus needs to be considered whether the returns are pretax or post tax.
The fact remains that no one gives anything in charity. more  
FOR INVESTMENT TO TAKE BENEFIT OF SECTION 80C ,INVESTMENT MUST BE DONE WITHIN THE f.y., as such you can not invest for the F.Y. 2014-15 NOW. more  
It is up to you invest in any plan after reading pros & corns of a plan / system. It depends on the amount to invest and time for which it can be invested. That is the amount you have in hand to invest and for which period you can not need it. It depended for man to man. It is not advisable to invest money to save Income Tax only by taking loan or if the amount is needed before 3 years due to one or the other reasons or family circustances. more  
For financial yr 2014-15, investment should be on or before 31st Mar. more  
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