Tax Planning in India

1. - Pooja Patel

2.  Tax planning is the analysis of one’s financial situation
from a tax efficiency point of view so as to plan one’s
finances in the most optimized manner.
 Tax planning is an exercise undertaken to minimize
tax liability through the best use of all available
allowances, deductions , exemptions etc to reduce
income or capital gains.
 Tax planning is a legal way of reducing income tax
liabilities
What is Tax Planning?

3. Tax Planning is Different
from Tax Avoidance and
Tax evasion

4.  Reduction in overall tax liability
 Economic stability
 Growth of economy
 Litigation minimization
 Productive investment.
Tax Planning Objectives:

5.  Purposive tax planning: Planning taxes with a
particular objective in mind
 Permissive tax planning: Tax planning that is under
the framework of law
 Long range and Short range tax planning: Planning
done at the start and end of a fiscal year respectively.
Types of Tax Planning:

6.  Individuals
 Hindu Undivided Family
 Company
 Firm Association of persons
 Local authority
 Other persons not included above
Types of Assesses

7.  Income from Salary
 Income from House Property
 Profits and Gains from Business
 Capital Gains
 Income from Other Sources
Heads of Income

8.  Save tax under Sec 80 c, Sec 80 ccc & Sec 80 ccd
 Save tax under Sec 80D.Sec 80 DD & Sec 80 DDB
 Tax Planning through Home loan
 Save Tax Through Education Loan u/s 80E
 Tax Planning of long term Capital Gains
 Income Tax Deductions for Donations u/s 80G
 Long term Capital Gains from the Sale of Equity
Shares.
Tax Planning in India

11.  Equity Link Saving Scheme
 Public Provident Fund
 Employee’s Provident Fund
 Unit linked Insurance Plan
 Traditional Insurance Plan
 National Pension Scheme
 5 years Post Office Time Deposits
Tax Saving Investments

12. Thank you