Tax Planning & Structuring

If your taxable income exceeds the Basic exemption limit, tax planning becomes very important. Our tax professionals offer essential advice when it comes to analysing your business and revenue structure.

Speak to our experts who will help you with Tax Planning & Structuring

What is Tax Planning?

Tax planning and structuring is a process of analysing the situation or a financial plan form tax perspective. The primary and vital objective of tax planning is Tax efficiency. This mark can be achieved by taking into consideration the investments expense, retirements planning schemes and other deductions based on the status of the person. Hence an effective tax planning can assist in reducing the Income tax liability.

Overview

Tax payment is mandatory for every individual who falls under a specific Income-tax bracket and hence structuring your Tax liability is essential for any person to ensure that reliefs/benefits provided by the Government are not missed. At regular intervals, various amendments are made in the Taxation policies by the Finance ministry. Hence you may end up ignoring eligible deductions/reliefs introduced and thereby computing higher tax liability.

It may also happen that the amendment introduced has deleted any relief which you still included in your Tax computation. In such a scenario, your Income-tax return filed may prove to be defective or you may even receive a notice from the Tax department.

In such a case, you shall trust an expert for tax planning, and yourself shall focus on the other core activities of the business.

Is Tax planning legal?

Planning your financial affairs to compute your tax liability is legal provided such plans are not structured in any way to mask any of your income to avoid your tax liability.

How will we help you?

Our Tax experts provide invaluable opinion analysing your business/income structure. Our service ranges to the business organisation, including sole proprietorship, Limited liability Partnership(LLPs) and Incorporated Companies.

Still have doubts?

Please speak to our experts who shall solve all your doubts. Call us at @+91 7738066334 or Mail us at info@indiacompanyincorporation.com

FAQs

a. What are the three most fundamental tax-planning strategies?

Tax planning can be done in various ways. The three most common include lowering your overall income, increasing your number of tax deductions during the year, and taking advantage of certain tax credits.

b. Is Tax Planning Legal?

Planning your financial affairs to compute your tax liability is legal, provided such plans are not structured in any way to mask any of your income to avoid your tax liability.

c. What is tax planning in basic terms?

Financial planning for tax efficiency is referred to as tax planning. It tries to lower one’s tax liabilities by maximising the use of tax exemptions, refunds, and advantages. Tax planning entails making financial and economic decisions to reduce the tax burden.

d. What is the distinction between tax planning and tax evasion?

The goal of tax planning is to reduce your tax bill by making use of current legal options. On the other hand, tax evasion is the practice of avoiding paying taxes by using legal loopholes.

e. What is the purpose of tax planning?

Every taxpayer is aware of the financial burden that paying taxes imposes. Tax planning enables you to invest wisely in savings vehicles, providing both investment growth and reducing the amount of taxes you pay to the government.

f. What are the benefits of tax planning?

Taxes might reduce your annual income. To combat this, tax planning is a legal technique to lower your tax payments in any given fiscal year. It enables you to make the most of the government’s tax exemptions, deductions, and perks to reduce your tax liability.

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