Module 1 Tax Planning Hni

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Module 1 Tax Planning Hni

  1. 1. Tax Planning An HNI Perspective Date | Cognizant Technology Solutions
  2. 2. Be an Businessman / Investor <ul><li>Thinking about Finance from the Businessman / Investor Point-of-View </li></ul><ul><ul><li>Why do you think Warren Buffet bought a used Rolls Royce 6 months ago? </li></ul></ul><ul><ul><li>Why do you think Tata Steel bought Corus rather than build a company on its own? </li></ul></ul><ul><ul><li>Why do you think Jet Airways leased its aircrafts when it began its business? </li></ul></ul>
  3. 3. Cash flow should determine what you buy <ul><li>This applies to your tax planning tools and </li></ul><ul><li>also for your expenses. </li></ul>
  4. 4. The Second House Model <ul><li>The IT department treats your second house as a business. </li></ul><ul><ul><li>Reason: The negative cash flow from Interest and Maintenance reduces your Receipts. </li></ul></ul>
  5. 5. The Second House Model… <ul><li>Buy your first house not in your place of work but in your native place. </li></ul><ul><ul><li>Reason : You can continue to get untaxed HRA in your place of work. </li></ul></ul>
  6. 6. The Consultant Approach <ul><li>Check if your company can give your take home as a Consultant. </li></ul><ul><ul><li>Reason: As a consultant, your expenses on car, its driver, fuel, dinning out (in some cases), laptop, broad band and telephone can be treated as expense. This reduces your taxes considerably </li></ul></ul>

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