mumbai even as the government plans to go hammer and tongs after those holding black money in the coming fortnight many genuine tax payers are not doing proper tax planning and losing out according to a research report often professionals invest in instruments that save tax but yield poor returns in the long term which is why investing in the right scheme becomes important to avail the short term benefits of tax saving as well as good returns on investment in the long term reads the research report by arthayantra a fullservice roboadvisor according to the rearch report tax saving habits of indiansmost professionals commit mistakes in their tax planning tax is one of the most important personal financial decisions often these decisions are taken without help this could lead to a lot of mistakes and wealth erosion in fact most of the mistakes are made between the ages of 2130 said nitin b vyakaranam ceo arthayantra ppf schemes typically have a longer lockin period than elss schemes and yield lower returns as an investment yet ppf remains the most preferred tax saving scheme for all ages while elss subscription is very low for all ages the report added