Tax planning helps you to analyze and define actions to ensure that you are minimizing your tax liabilities. It assists you in utilizing all of available deductions, allowances, concessions, exemptions, exclusions, rebates as permitted under law.
The goals of tax planner include:
- Reducing your tax liability: Helps you to save the maximum amount of tax you can, by properly arranging your operations in accordance with tax laws.
- Minimizing litigation: It assists you and understanding conforming to the provisions of tax law, so that the incidence of litigation is minimized.
- Investing more productively: Helps you to understand investment options from a tax perspective so you can maximize your returns.