Tax Planning

Tax Planning

Like as a responsible person, it is required to pay taxes on time every year. The same way, we at taxpayers should be vigilant as to where we could do our researched tax planning so as to save our hard-earned money. Let our Chartered Accountants help you in the informed tax planning.

Tax Planning is an arrangement of one's financial and business affairs by taking legitimately in full benefit of all deduction, exemption, allowances and rebate so that tax liability reduces to minimum. Tax planning may legitimate be provided within the framework of the law. Colourable devices cannot be part of tax planning and it is wrong to encourage or entertain the belief that it is honourable to avoid payment of tax by resorting to dubious method.

At CCL, we will take care of all your tax planning needs so that you will be able to: -

  • Reduce your tax liability ethically;
  • Minimise litigations; and
  • Be able to do productive investments.
  • Tax planning is the analysis of a financial situation or plan from a tax perspective. The purpose of tax planning is to ensure tax efficiency. Through tax planning, all elements of the financial plan work together in the most tax-efficient manner possible. Tax planning is an essential part of an individual investor's financial plan. Reduction of tax liability and maximizing the ability to contribute to retirement plans are crucial for success.

Documents Required

  • The income and investment documents.
  • Financials of the business (for other than salaried people).
  • The last tax return filed and computation you have.
  • Any other information you think can help.

Our Tax planning exercise ranges starting from devising a model for specific transaction to systematic transaction planning. We can get you the best tax planning suitable for you. Some of them are as follows:

  • Short-range and long-range Tax Planning.
  • Permissive Tax Planning.
  • Purposive Tax Planning.
  • Tax planning in respect of corporate restructuring.
  • Tax planning in respect of financial management.
  • Tax planning in respect of employees’ remuneration.
  • Tax planning in respect of specific managerial decisions.
  • Tax planning in respect of Non- Residents.

Tax planning, in fact, is an honest and rightful approach to the attainment of maximum benefits of the taxation laws within their framework. And our professional team at Compliance Calendar LLP is best in that. Get in touch today to devise the best tax planning our tax experts can offer you.

With the end of the financial year, salaried people can start ahead with Tax Planning along with exploring avenues to claim a refund of paid tax.

Tax planning exercise is more important since the Companies Act, 2013 and other allied laws narrow down the scope for tax evasion and tax avoidance techniques, driving a taxpayer to a situation where he will be subjected to severe penal consequences.

With increase in profits, the quantum of corporate tax also increases and it necessitate the devotion of adequate time on tax planning.

Tax planning enables a company to bear the burden of both direct and indirect taxation during inflation.

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