Tax Liability is a duty levied by the government on your income which aids it to conduct public welfare activities.There is more to tax planning than the exemptions available on savings made by you. Tax planning here becomes a necessity as there are a lot Individuals who often pay tax more than they were required.With the help of tax planning, one can ensure that all elements of a financial plan can function together with maximum tax-efficiency. An individual can pay tax on TI at prescribed slab rate he is not entitled to get deduction in respect of remuneration , interest on capital while computing income from his business. Firm pays tax at the rate of 30.9%. The share of income of a firm in the hand of partner is fully exempted.Interest on capital or loan given on a rate mentioned in partnership deed , but should not exceeding 12% . A domestic company is liable to pay tax at the rate of 30% with surcharge and Edu: cess. Keeping in view exemption nil in the case of firm , it is better to dissolve and start new business. The firm should pay interest and remuneration to partners to the extent to reduce the incidence of tax.
Basic planning starts with tax planning services which can increase the take home income. These investments can also cater to a few of your needs if this is well planned. With proper tax planning new business can get advantages of tax exemptions, deductions, incentives, rebates and reliefs permitted under law.
VSRK is one of the best tax planning experts in Delhi. Our Tax Planning advice, will make you pay the right amount of tax and know how to tax proof your income and gains.We will guide you in Planning & managing your finances and achieving your financial goals.