Avoid paying taxes lawfully by availing all possible exemptions, deductions, rebates and reliefs provided in the Act to maximum extent by planning in advance. Tax Planning can be short term and long term and involves:
- Saving tax by making right kind of investments such as PPF, LIP, National Pension Scheme,Mutual Funds, Shares etc.
- Saving tax by making payments like Gifts, Donations, Medical Insurance, Medical treatments.
- Saving tax through Home Loans, Education Loans
- Saving Long Term Capital Gains Tax on sale of property
- Saving tax by choosing right kind of accounting system, residential status and type of organisation.
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