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Tax Planning

TAX Planning

TAX Planning

Our team of Tax Professionals offer a wide range of tax consulting which will help in accomplishing your personal goals.

Our team includes members who have over 20 years of experience in the industry.

We guide in determining the level of help you need to anticipate the time and cost involved in preparing tax returns to receive the maximum benefit with adherence to regulations and compliance.

Fintrans distinguishes itself from entrants by going beyond tax return preparation. Our objective is not just to complete the return in time and comply with the regulations, rather aim is also to advise on what strategies you adopt throughout the year to optimize tax incidence.

  1. Utilize Deductions under Section 80C and Other Sections: Section 80C is a popular deduction for investments in instruments like Public Provident Fund (PPF), Equity Linked Savings Schemes (ELSS), and Unit Linked Insurance Plans (ULIPs). Remember, Section 80C offers deductions for various other expenses like medical insurance premiums, children’s school fees, home loan repayments, and more. Explore these options to maximize your deductions and lower your taxable income.
  2. Plan Your Investments Smartly: Not all investments offer tax benefits. Choose investments that align with your financial goals and tax-saving needs. Explore options like Equity Linked Savings Schemes (ELSS) that offer good growth potential along with tax deductions.
  3. Salary Structure Optimization: If you’re salaried, discuss tax-saving benefits with your employer. Opt for allowances like House Rent Allowance (HRA) and Leave Travel Allowance (LTA) to reduce your taxable salary.
  4. Avail Medical Insurance for Family: Medical insurance premiums for yourself, spouse, and dependent parents qualify for tax deductions under Section 80D. This ensures you have health coverage while reducing your tax burden.
  5. Maintain Records and File Returns on Time: Keeping proper records of investments, receipts, and other tax-related documents is crucial. Timely filing of Income Tax Returns (ITR) ensures you don’t miss out on any potential refunds and avoids penalties for late filing.

Finally we are here to help you to guid in the right direction on smart TAX Planning, get in touch with our team to get the best solution for your needs.

Fintrans – Be Financially Wise Services

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