Fine Advice Private Limited

Proper tax planning is a basic duty of which should be carried out religiously. Basically, there are three steps in the tax planning exercise:

Calculate your taxable income under all heads i.e., Income from Salary, House Property, Business & Profession, Capital Gains and Income from Other Sources.

Calculate the tax payable on gross taxable income for the whole financial year (i.e., from 1st April to 31st March) using a simple tax rate table.

After you have calculated the amount of your tax liability. You have two options to choose from:
1. Pay the tax with no planning.
2. Minimize your tax through prudent tax planning.

Most people rightly choose Option ’B’. Here you have to compare the advantages of several tax saving schemes and depending upon your age, social liabilities, tax slabs and personal preferences, decide upon a right mix of investments, which shall reduce your tax liability to zero or the minimum possible.

Sounds interesting but confusing….. Well we at Fine Advice, provide our clients Tax Planning services in the most planned and organized manner throughout the year so that Tax Planning does not become a burden at the end of the financial year.

For more details you can either contact our Kolkata Office OR drop us an email at caddieforlife@fineadvice.in