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Tax planning is imperative because it helps you to smartly minimize the amount of income tax payable and hence have more savings. These savings can be invested further for future financial security. When each financial year comes to a close, there is a rush to find ways to minimize tax incidence for the year through approved investment options. And as action is being taken at the last minute, you might miss out on some opportunities and end up paying a higher tax than you should.
Tax planning can be done by simply investing a portion of your total investment portfolio in some securities for which the government has provided tax benefits. We guide you with the full list of available tax saving options according to the various sections of the income tax act, which may get updated each financial year, and options that you may consider depending on your risk/ return profiling.
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