Tax Planning

appraise proviso Tax planning is a treat of smell at various tax excerptions in coif to gear up when, whether, and how to conduct trade and personal proceedings so that taxes are eliminated or reduced. As an individual taxpayer, and as a business owner, you entrust often have the option of completing a taxable transaction by much than one method. The courts strongly back your right to choose the personal line of credit of action that will result in the lowest judicial tax financial obligation. In other words, tax scheme is entirely proper. WHAT IS revenue PLANNING? Tax planning is an inhering part of your financial planning. in effect(p) tax planning enables us to reduce our tax liability to the tokenish. This is done by lawfully taking advantage of every(prenominal) tax exemptions, deductions rebates and allowances while ensuring that your investments are in line with your commodious term goals. OBJECTIVES OF TAX PLANNING * run down the amount of t axable income * Reducing your tax dictate * Controlling the time when the tax must be paid. * Claiming either available tax credits * Controlling the effects of the substitute(a) minimum tax * Avoiding the most common tax planning mistakes. WHAT TAX PLANNING IS not... * Tax Planning is not tax evasion. It involves estimable planning of your income sources and investments.

It is not tax evasion which is illegal downstairs Indian laws. * Tax Planning is NOT just plume your money blindly into any 80C investments. * Tax Planning is NOT difficult. Tax Planning is easy. It can be pr acticed by everyone and with a very little t! ime commitment as long as one is organized with their finances. SUMMARY OF grave INCOME TAX PROVISIONS 2010-2011 NEW TAX RATE FOR exclusiveS soulfulness [OTHER THEN WOMEN AND SENIOR CITIZEN] Income Tax Slabs for ay 11-12| S.No. | Income Range | Tax per centum | 1 | Up to Rs 1,60,000 | No tax | 2 | 1,60,001 to 5,00,000 | 10% | 3 | 5,00,001 to 8,00,000 | 20% | 4 | Above 8,00,001 | 30% |...If you neediness to make it a full essay, order it on our website: OrderCustomPaper.com

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