New Delhi, Feb. 24 -- Tax planning is an integral part of investment portfolio construction. If you are seeking better post-tax returns, you cannot afford to ignore it.

When building a portfolio, investors typically focus on risk profiling, income versus savings rate, age and asset allocation. These form the foundation of portfolio design. But that is only one part of the exercise. Every investor must also evaluate tax efficiency within the broader investment plan to minimize avoidable tax leakages.

Several strategies can help, depending on your financial situation and goals.

For instance, tax-loss harvesting allows you to offset capital gains by booking losses where appropriate. Income splitting and gifting to family members-within th...