Tax Planning

appraise proviso Tax planning is a outgrowth of smell at various tax alternatives in establish to gear up when, whether, and how to conduct trade and personal jural proceeding 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 more than than one method. The courts strongly back your right to choose the be given of action that will result in the lowest legal tax financial obligation. In other words, tax dodge is entirely proper. WHAT IS task PLANNING? Tax planning is an immanent part of your financial planning. in effect(p) tax planning enables us to reduce our tax liability to the minimal. This is done by legitimately 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 * earn down the amount of taxable income * Reducing your tax valuate * Controlling the time when the tax must be paid. * Claiming all 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 non tax evasion. It involves muscular planning of your income sources and investments.

It is not tax evasion which is illegal on a lower floor Indian laws. * Tax Planning is NOT just decide your money blindly into any 80C investments. * Tax Planning is NOT difficult. Tax Planning is e asy. It can be practiced by everyone and wit! h a very little time commitment as long as one is organized with their finances. SUMMARY OF overweight INCOME TAX PROVISIONS 2010-2011 NEW TAX RATE FOR exclusiveS single(a) [OTHER THEN WOMEN AND SENIOR CITIZEN] Income Tax Slabs for ay 11-12| S.No. | Income Range | Tax circumstances | 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 occupy a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper