TAX PLANNING
➤ Tax planning is an analysis of a financial plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency, with the elements of the financial plan working together in the most tax-efficient manner possible. Tax planning is an important part of a financial plan, as reducing tax liability and maximizing eligibility to contribute to retirement plans are both crucial for success. It is not a device to reduce tax burden but helps to save by investments in government securities.
➤ We make it a top priority to first calculate your tax liability and then look for ways to save tax while achieving various financial goals. Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year and not just at the end of the year.
With the growing complexity and diversity of available options for tax planning purposes, it is important that we critically examine and bring across to you all the options available in the present investment market to optimize post tax return and choose the most suitable for you so that you live a stress-free life.
➤ Factors of tax planning varies from one person to other. A person by investing in National Savings Certificate (NSC) saves on his tax. Whereas, the interest on the investment is taxable. If the investment is made in Public Provident Fund (PPF), he is not liable to pay the income tax on interest. But the period of NSC is six years whereas in the case of PPF the period of repayment is 5 years. However, a portion can be claimed after 7years. Thus the person who makes the investment has to consider whether he requires the amount after 5 years or he can wait for a longer period.
SAVINGS AND INVESTMENTS ARE INTERCONNECTED
ADVANTAGES OF TAX PLANNING
SPREAD THE TAXABLE INCOME AMONG VARIOUS MEMBERS OF YOUR FAMILY
TAKE FULL ADVANTAGE OF TAX EXEMPTIONS AVAILABLE UNDER THE LAW
TAKE FULL ADVANTAGE OF PERMISSIBLE TAX DEDUCTIONS AND REBATES AVAILABLE ON STIPULATED TAX- SAVING INVESTMENTS
MAKE OPTIMUM USE OF TAX-EXEMPTED INCOMES
SIMPLE TAX PLANNING IS SMART TAX PLANNING