Tax Planning Strategies for 2024

Save Money and Minimize Your Tax Burden

Optimize your deductions, credits, and investments with our expert tax planning tips. Reduce your tax liability and keep more of your hard-earned money.

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What is Tax Planning?

Tax planning is the process of organizing your finances in a way that minimizes your tax liability.

It involves strategic decision-making to optimize your financial situation and legally reduce your tax burden.

Learn More

Why Tax Planning is Required?

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1

Maximize Savings:

Efficient tax planning helps you keep more of your hard-earned money.

2

Legal Compliance:

Ensures adherence to tax laws, avoiding penalties and legal issues.

3

Financial Goals:

Aligns with your overall financial goals, such as wealth creation, retirement planning, and more.

What are the common tax saving options available?
 

Common Expenses Considered for Investment
  • Life Insurance Premium - Section 80C
  • Health Insurance / Mediclaim Premium - Section 80D
  • Medical expenses for specified diseases - Section 80DDB
  • Children's Tuition Fees - Section 80C
  • Donations to specified institutions and trusts - Section 80G
  • Medical expenses for specified diseases - Section 80DDB
  • Home loan principal repayment - Section 80C
  • Home loan interest repayments - Section 24
  • Education Loan interest repayment - Section 80E
Common Investment Considered for Investment
  • Equity Linked Savings Scheme (ELSS) mutual fund
  • Unit Linked Insurance Plans (ULIPs)
  • Public Provident Fund (PPF)
  • National Savings Certificate (NSC)
  • National Pension System (NPS)
  • Tax Saver FD (5 year tenure)
  • Sukanya Samriddhi Yojana
  • Employee Provident Fund
  • Voluntary Provident Fund

Process in Tax Planning

Scheduled Transactions

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FAQ

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