You need to plan your investments depending on the anticipated future consumption by you and your family members on education, retirement, health etc. It all depends on your present and future needs, income structure, time horizon etc. that ultimately results in more benefits through reduced taxes.
Tax planning is not a device to reduce tax burden. In fact, it helps savings by investments in different securities to save tax. The goal of income tax planning is to minimize your statutory income tax liability. You can achieve this in different ways. You should consider deduction planning, investment tax planning, and year-end planning strategies to lower your overall income tax burden.
