All About Tax Planning Steps
Proper Tax Planning Steps should be the fundamental duty of every person. In fact, there are three stages in the planning process.
These three tax planning steps are:
All heads i.e., salary, income from house property, business and profession, capital gains, and income from other sources, the calculation of their taxable income.
The financial year the total taxable income (i.e., April 1 to March 31) using a simple tax rate table, calculate the tax payable on the next page.
The amount of your tax liability after you calculated. You have two options to choose from:
- Do not pay attention to your tax planning needs
- Be prudent to minimize your tax through tax planning.
Most people choose option “b”. You should consider your age, savings plans, social liabilities and personal preferences of multiple tax slab return, to compare a perfect mix of investment, which is zero or minimum possible will reduce your tax liability for the decision.
Incentives provided by the Government of each citizen to avail all the tax is a fundamental right. therefore, prudent tax plan not only at income tax liability but also a better future in the highly secure Government plans ensured due to the savings we honestly all our readers and customers this wayPost your investment plans in that yield the highest possible liquidity to keep security and tax-basic criteria to see advice
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