TAX Planning Advisory
TAX Plannings are based on technologies, facts, and mainly on the organizational goals.
It is necessary for Business organizations. Individuals thus need it for managing and preventing threats and opportunities etc. Tax planning involves the analysis of the finances of a company with respect to tax efficiency. It helps to avail benefits like exemption from taxes provided in the taxation laws. It is different from tax evasion, as tax evasion is illegal while tax planning is a legal and smart way of paying taxes. Tax planning involves computing liabilities, calculating fixed investments, and investing the remaining money into appropriate sectors. Tax planning can be short-term, long-term, permissive, and purposive. The importance of tax planning is that companies can reduce tax liabilities, reduce the risks of unnecessary lawsuits, make smart investment options, and thus paves the way for economic growth.