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Income Tax Planning

Income Tax planning is a conscious effort taken by all income tax assesses in order to minimize the overall Income Tax liability by availing of the permissible deductions and exemptions under Section 80C, 80CCD, 80D and other Chapter VIA deductions and other exemptions under the Income Tax Act. In particular, tax planning refers to the specific exercise to be commenced from April itself methodically and not in the month of March desperately. This approach will help one to avoid interest payment on account of delayed payment of advance tax. This will also help in avoiding huge cash outflow finally. Edila Wealth has its team of experts to help its clients to identify and choose the best applicable deductions and exemptions in order that the right and requisite amount is only paid towards Income Tax as per the provisions of the Act.

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