The avoid goal of every taxpayer is to minimize his Tax Liability. Tax Planning involves planning in order to avail all exemptions, deductions and rebates provided in Act.The purpose of tax planning is to discover how to accomplish all of the other elements of a financial plan in the most tax-efficient manner possible. Tax planning thus allows the other elements of a financial plan to interact more effectively by minimizing tax liability.
Tax planning is not a device to reduce tax burden. In fact, it helps savings by investments.
Savings and investments are interconnected. Before making investments the person has to consider various factors such as..
