Income tax planning is one of the most important part of your personal finance . Tax planning does not mean tax evasion, which is illegal. Efficient tax planning reduce your tax burden without compromising your financial requirement. But remember, without considering other aspect of financial need, just purchasing tax saving instrument to reduce your tax burden is not a perfect idea. Many a time investor get trapped by this type of thinking or aggressive sales strategies adopted by product vendor. It may lead you to become an owner of the basket of financial products, which are not best suit for your personal finance. No need to say that may be detrimental to your financial health.