Go Back   ManagementParadise.com | Management & Business Education Learning Platform Resolve Your Query - Get Help and discuss Projects > Financial Management ( FM )

Importance of Tax Planning

Discuss Importance of Tax Planning within the Financial Management ( FM ) forums, part of the Resolve Your Query - Get Help and discuss Projects category; In the current business environment tax planning has relevance for all individuals including the people dealing in shares, house property, ...

Reply

 

Thread Tools Display Modes
Importance of Tax Planning
Old
 (1 (permalink))
Abhijeet S
abhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to behold
 
abhishreshthaa
Operations Manager at Management Paradise
Management Paradise Guru
 
Status: Offline
Posts: 7,045
Join Date: May 2010
Importance of Tax Planning - September 24th, 2010

In the current business environment tax planning has relevance for all individuals including the people dealing in shares, house property, salaried, business owners and also income from other sources.

Why tax planning is necessary for the salaried employees? This question is the headache of almost all individual. Proper tax planning will help the salaried employee to save tax in order to save its hard earn money. It also helps the individual to save tax at the end of the assessment year if they invest in certain long term investments.


But if they do not do proper tax planning ultimately end up in paying higher tax. You can reduce your tax liability by arranging your financial incomes and investments in such a way as to enjoy the maximum tax benefits by making use of all the beneficial provisions and tax incentives, which are incorporated in the tax laws that entitle you to rebates and concessions. Most of the tax incentives oriented, and not only saves your tax also boost the economy of the country in the long run.


Tax planning is both perfectly legal and encouraged by tax authorities. So in the current business environment tax planning has relevance and provides placement opportunities such as:


1. Direct tax planners

2. Indirect tax planners

3. Tax planning consultants

4. Taxation consultant

5. Financial planners



In the field of finance tax planning forms part of the financial planning so it comprises the most of the part of the individual to understand the imposition of tax liability in order to give the importance of tax in the field of finance.
Advertisements



Help Others > Network > Grow


Work with us part time/full time as forum moderator. Email us your resume on careers @ managementparadise.com PLS PRESS THANKS BUTTON IF U LIKED MY POST.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
Friends: (0)
Reply With Quote
Re: Importance of Tax Planning
Old
 (2 (permalink))
Business Education
Business-education is on a distinguished road
 
Business-education
Student of BMM
Mumbai, Maharashtra
Management Paradise Guru
Status: Offline
Posts: 4,329
Join Date: Jun 2012
Location: Mumbai, Maharashtra
Re: Importance of Tax Planning - June 16th, 2015

Definition of Tax Planning

Tax planning can be defined as an arrangement of one's financial and business affairs by taking legitimately in full benefit of all deductions, exemptions, allowances and rebates so that tax liability reduces to minimum.

Four types of tax planning

(1) Tax evasion

(2) No tax planning

(3) Basic tax planning

(4) Advanced tax planning

Friends: (0)
Reply With Quote
Re: Importance of Tax Planning
Old
 (3 (permalink))
Rose Marry
rosemarry2 is an unknown quantity at this point
 
rosemarry2
Management Paradise Guru
Status: Offline
Posts: 2,125
Join Date: Apr 2016
Re: Importance of Tax Planning - April 21st, 2016

Quote:
Originally Posted by abhishreshthaa View Post
In the current business environment tax planning has relevance for all individuals including the people dealing in shares, house property, salaried, business owners and also income from other sources.

Why tax planning is necessary for the salaried employees? This question is the headache of almost all individual. Proper tax planning will help the salaried employee to save tax in order to save its hard earn money. It also helps the individual to save tax at the end of the assessment year if they invest in certain long term investments.


But if they do not do proper tax planning ultimately end up in paying higher tax. You can reduce your tax liability by arranging your financial incomes and investments in such a way as to enjoy the maximum tax benefits by making use of all the beneficial provisions and tax incentives, which are incorporated in the tax laws that entitle you to rebates and concessions. Most of the tax incentives oriented, and not only saves your tax also boost the economy of the country in the long run.


Tax planning is both perfectly legal and encouraged by tax authorities. So in the current business environment tax planning has relevance and provides placement opportunities such as:


1. Direct tax planners

2. Indirect tax planners

3. Tax planning consultants

4. Taxation consultant

5. Financial planners



In the field of finance tax planning forms part of the financial planning so it comprises the most of the part of the individual to understand the imposition of tax liability in order to give the importance of tax in the field of finance.
Hello dear,

Well, i found some information on Overview on Tax Planning and wanna share it with you and other's. So please download and check it.
Attached Files
File Type: pdf Overview on Tax Planning.pdf (159.0 KB, 0 views)
Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
importance, planning, tax
Related to Importance of Tax Planning
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
fsm importance nimi_0188 Upload / Download Banking and Insurance Projects and Notes 3 October 21st, 2010 12:00 PM
DGM/Sr. Manager- Network Planning/ RF Planning(GSM)-HYDERABAD, 10-15 years exp, Hyder Maya Raichura JOB OFFERS , Recruitments , Placements !! 0 January 10th, 2010 01:40 PM
Tax Planning for 2010Tax Planning for 2010 Rajan Pandey Articles !! 0 December 10th, 2009 08:46 PM
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.