Tax saving is 'NOT' the primary goal of long term investment
Budget 2020 has created quite a ripple as far as income tax is concerned.Some are happy..many seem indifferent and most of the people seem upset that the new lower tax slabs comes with riders i.e) Most of the exemptions including standard deduction, Deductions allowed under 80C regimen were taken out..The result is supposed to be a simpler tax system..While the impact as well as advantages needs to be studied on case by case basis, nobody is denying the fact that the new tax slabs has given a knockout blow to the tax saving investment instruments such as ELSS.Experts are worried that the younger generation,will have no incentive to invest as it may not impact their tax payment. While it is true that the new tax structure offers no direct deduction benefits for investing in tax saving instruments like elss, ppf etc, the fundamental question is whether we should link our investment goals with tax savings & make tax saving a primary objective.The simple answer is 'NO'. A serio...