Steps in Tax Planning

November 8th, 2009  |  Published in Income Tax, Investment

Following are the steps in tax planning which would aid a person in making prudent tax plans to reduce their income tax liability and ensure a better tomorrow by making compulsory savings by investing in various tar saving schemes. These steps in tax planning are:

  • Compute the gross total income
  • Calculate tax payable on gross taxable income for a financial year
  • Check the impact of investment in various tax planning instruments on the liability


Get articles in your inbox.

Enter your email address:

Join Us

Twitter Chatter