What set of people can be marked as the most tax advantaged group in context on Indian Taxation?

The answer may surprise you, but the answer is simple – YOU – whether salaried or businessman.

I would add a caveat to make it a little more believable and accurate. The most advantaged group in the taxation is the INFORMED INDIVIDUAL.

So, how do you become one of these favoured INFORMED INDIVIDUAL so you can start to see these benefits come your way? The answer is ‘Strategic Tax Planning’. Or better yet, you need to find a professional that can provide you with comprehensive, strategic tax planning.

Think About It..... The Need for Tax Planning!

Let us all admit the fact that once we earn income subject to certain exemptions and deductions; one will have to pay taxes.

What you can do is plan your taxes, investments, etc. to ensure that in long term the incidence of tax and tax on wealth / asset created from income post tax can be minimised to the extent possible.

This is also bring us to another interesting and important concept ‘Estate Planning’

Estate Planning refers to the organised approach to managing the accumulated assets of a person in the interest of the intended beneficiaries. Wealth may be accumulated with a specific purpose of being passed on to heir, to charity, or to any other intended purpose. Without formal structures that ensure that these purposes are met, there could be disputes, conflicting claims, legal battles, avoidable taxes and unstructured pay-offs that may not be in the best interest of the beneficiaries.

Estate planning covers the structural, financial, legal and tax aspects of managing wealth in the interest of the intended beneficiaries.

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