TAX PLANNING

Submitted By: Submitted To:

Rikesh Wareppam Ms. Amrita Barthakur
Biplob Seal Assistant Professor
Hirak Jyoti Kalita Department Of Management
Assam Downtown University
Content
Meaning of Tax Planning
Methods of tax planning
Tax Planning with reference to Setting up of a New Business
Tax Planning with reference to Location Aspects
Tax Planning with reference to Nature of Business
Planning for Tax Holding Benefits with reference to
Financial Management Decision Attachments area
conclusion
Meaning of Tax Planning
Tax planning is a focal part of financial planning.
It ensures savings on taxes while simultaneously
conforming to the legal obligations and requirements
of the Income Tax Act, 1961. The primary concept of
tax planning is to save money and mitigate one's tax
burden.
Methods Of Tax Planning
Short Term Tax Planning
Long Term Tax Planning
Permissive Tax Planning
Purposive Tax Planning
Tax Planning with reference to Setting up of
a New Business
Location of new business
Nature of new business
Form of new business
Tax Planning with reference to Location Aspects
Income from newly established unit in Special
Economic Zone (sec 10AA)
profits and gains from undertakings or Enterprise
engaged in Infrastructure Development (Sec 80-IA).
Deduction in respect of profits and gains in respect of
certain undertakings in North –Eastern States (Sec 80-
IE).
Deduction in respect of profits of industrial
undertaking located in backward sate or district. (sec
80IB)
Tax Planning with reference to Nature of
Business
Agricultural Income. [sec. 10(1) ]
Dividend or Long-Term Capital Gain accruing to
Venture Capital or a Venture Company. Sec. [10(23FB)
Tea Development Account, Coffee Development
Account and Rubber Development Account (Section
33 AB).
Planning for Tax Holding Benefits with
reference to Financial Management Decision
Attachments area
To minimize litigation
To reduce tax liabilities
To ensure economic stability
To leverage productivity
Conclusion
With proper tax planning new business can get
advantages of tax exemptions, deductions, incentives,
rebates and reliefs permitted under law. Tax planning
helps channelize taxable income to various investment
plans. Tax planning helps you save money. Tax
planning enables corporate to contribute towards the
economic growth of our country. Promotes economic
stability.
THANK YOU