Tax planning is the fourth but an extremely important aspect in financial planning and wealth management given the complex nature of our laws and their equally varied interpretations. All planning can be upset without due consideration of taxation rules and in extreme cases may land oneself in undue legal hassles. Taxation laws change very frequently from year to year. Investments spread over a long period are therefore influenced by their applicability and also by factors like cost inflation index, the constitution of the investing entity, etc. This aspect of investments is therefore best handled by a dedicated tax consultant.