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Tax Planning Made Easy with TaxBuddy’s Tax Planner
Reduce your tax liability up to 26%
Generate in-depth tax report
Find tax saving investment opportunities
Plan taxes with a qualified expert
4.9 ★ Google rating from 16,000+ reviews
Are you struggling with one of these questions? You definitely need Tax Planning!
Is there a way to minimise my tax liability as a professional or a business owner?
What may be the consequences of the new tax regulations and laws on my status as a taxpayer?
How to handle taxes from my foreign income and assets, and tax treaties between India and other countries?
Importance of Tax Planning- Why Should You Seek Advice from a Tax Planner
Whether you are struggling with these questions or having a smooth sail, tax planning is the smartest decision you can take as a taxpayer. It enables you to eliminate guesswork from the tax process and helps you to complete it more confidently. Having a seasoned income tax planner showing you the way is the best option to reduce your liability, prevent penalties, and deal with potential changes to the tax code. Here are a few good reasons to have an expert on board.
Minimise tax liability by making the most of tax-saving opportunities like deductions, credits, exemptions, and more
Maximise tax efficiency with tax-advantaged investment vehicles and strategies like tax-deferred accounts and retirement plans
Manage your risks and avoid penalties and legal hassles by staying on top of compliance with individual and corporate tax planning
Achieve your financial goals by saving taxes year after year and keeping track of the latest changes in tax laws and guidelines
Why Choose TaxBuddy as Your Guide
At TaxBuddy, we offer reliable tax planning expertise with a few clicks.
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Solution for all income types (Salaried, Business, Freelancers, Share traders, Futures and Option traders, and many more)
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Basic plan starts from only INR XXX
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Explore TaxSaver Pro and Advance plans for in-depth assistance
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Every potential tax-saving investment option in one report
We are India’s Highest Rated Platform for Tax Compliance
Niranjana Sharma
Local Guide • 2 months ago
TaxBuddy has been my personal tax planner for the last three years. I have always received the best advice from these experts, from saving my tax bill to preventing audits and penalties and optimising my investment portfolio. I recommend this seasoned team to everyone looking to manage their taxes smartly.
4.7
Google Reviews
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Rohan Baruah
3 months ago
Thanks, Team Taxbuddy for guiding me at every step of my financial planning journey. The best part is that their services are affordable. I started with a basic plan last year, but this year, I will take an advanced package because I’m sure about getting more valuable advice from these experts.
Google Reviews
5.0
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Subham Saurabh
1 month ago
With TaxBuddy as my planning partner, I never have to stress about going wrong with my taxes. My advisor offers personalised advice tailored to my needs and goals rather than providing generic tips that hardly help. I am thankful to this team because they have helped me reduce my liability year after year.
4.9
Google Reviews
How it works
Featured In
Basic Tax Planner
Advance Tax Planner Plans
Our dedicated team of professionals provides personalized assistance to individuals and businesses, helping you:
In-depth tax report based on your investments
Every potential tax saving investment options
All types of tax planning in one place (Individual, Business, NRI, Capital Gain)
TaxSaver Advance
*Exclusive of Taxes
₹2,599
For taxpayers with income other than salary
Sold a property? Get solutions against capital gains
Tax calculation and saving opportunities based on your tax slab
Tax loss harvesting solutions
Advance Tax calculation
Personalized tax saving options for business income
Bifurcation of HRA calculation
*18% GST will be applicable to the base plan amount
How Can You Save Taxes with Savvy Tax Planning
Best Tax Saving Instruments
Section | Deduction for FY 2023-24 (AY 2024-25) | Maximum limit | Who can invest? |
|---|---|---|---|
Popular investment options such as PPF, LIC, Mutual Funds, FD, Sukanya Samriddhi Account, child | Upto Rs 1,50,000 | Individual Or HUF | |
Pension Funds | Upto Rs 1,50,000 | Individuals | |
Atal Pension Yojana and National Pension Scheme Contribution | Upto Rs 1,50,000 | Individuals | |
Atal Pension Yojana and National Pension Scheme Contribution (additional deduction) | Upto Rs 50,000 | Individuals | |
National Pension Scheme Contribution by Employer | Amount Contributed or 14% of Basic Salary + Dearness Allowance (If the employer is Government) 10% of Basic Salary+ Dearness Allowance(any other employer) - Whichever is lower | Individuals | |
Medical Insurance Premiums, Medical Expenditures, and preventive health checkups | Upto Rs 1,00,000 | Individual Or HUF | |
Medical Treatment of a Dependent with Disability | Normal Disability (at least 40% or more but less than 80%): Rs 75000/- Severe Disability (at least 80% or more) : Rs 125000/- | Individual Or HUF | |
Medical expenditure for treatment of Specified Diseases | Senior Citizens: Upto Rs 1,00,000 Others: Up to Rs 40,000 | Individual Or HUF | |
Interest paid on Loan taken for Higher Education | No limit up to 8 assessment years | Individuals | |
Interest paid on Housing Loan | Upto Rs 50,000 subject to some conditions | Individuals | |
Interest paid on Housing Loan | Upto Rs 1,50,000/- subject to some conditions | Individuals | |
Interest paid on Electric Vehicle Loan | Upto Rs 1,50,000/- subject to some conditions | Individuals | |
Donation to specified funds/institutions. Institutions | 100% or 50% of the Donated amount or Qualifying limit, Allowed donations in cash up to Rs.2000/- | All assessees | |
Income Tax Deduction for House Rent Paid | Rs. 5000 per month 25% of Adjusted Total Income Rent paid - 10% of Adjusted Total Income - whichever is lower | Individual | |
Donation to Scientific Research & Rural Development | 100% of the amount donated. Allowed donations in cash up to Rs.10,000/- | All assessees except those who have an income (or loss) from a business and/or a profession | |
Section 80GGB | Contribution to Political Parties | 100% of the amount contributed No deduction is available for contributions made in cash | Companies |
Individuals on contribution to Political Parties | 100% of the amount contributed No deduction is available for contributions made in cash | Individual, HUF, AOP, BOI, Firm | |
Royalty Income of Authors | Rs.3,00,000/- Or Specified Income - whichever is lower | Individuals (Indian citizen or foreign citizen being resident in India) | |
Royalty on Patents | Individuals (Indian citizen or foreign citizen being resident in India) | Individuals (Indian citizen or foreign citizen being resident in India) | |
Interest earned on Savings Accounts | Upto Rs. 10,000 | Individual Or HUF (except senior citizen) | |
Interest Income earned on deposits(Savings/ FDs) | Upto Rs. 50,000 | Individual over 60 | |
Disabled Individuals | Normal Disability: Rs. 75,000/- Severe Disability: Rs. 1,25,000/- | Individuals |
Frequently asked questions
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Who needs tax planning?
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Tax planning benefits everyone, from salaried professionals to business owners and large corporations. Anyone who wants to reduce their tax liability and save money can invest in it.
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When is the apt time to start tax planning?
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Tax planning should start at the beginning of a financial year, as it enables individuals and businesses to settle their financial affairs and take advantage of the best tax-saving opportunities. However, you can still benefit from it at any time during the year.
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I know nothing about taxes; how can I start tax planning?
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The best way to do it is by working with a seasoned tax planner who understands your financial situation and offers personalised advice.
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How can you save tax in India?
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Fortunately, there are several ways to save tax in India. You can claim tax deductions, invest in tax-saving instruments, and get legitimate credits. A tax planner can help you use these methods to get the lowest tax bills.
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Why should I bother with Tax Planning?
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Tax planning is crucial for optimizing your financial situation and reducing your tax burden. By strategically managing your finances, you can take advantage of various income tax rules and provisions to maximize your savings. Effective tax planning ensures that you make the most of available tax-saving options, leading to increased financial efficiency and long-term wealth accumulation.
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Apart from 80C, what other ways can I save on taxes?
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Beyond Section 80C, there are several avenues for tax savings. You can consider:
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Claiming tax-deductible expenses such as insurance premiums, tuition fees for children, rent payments, home loan/stamp duty payments, interest on home loans, and medical expenses for dependent family members.
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Exploring investment options like the National Pension Scheme (NPS) to optimize your income structure and minimize taxable income.
Diversifying your tax-saving investments across various asset classes and leveraging a mix of deductions and exemptions is key to comprehensive tax planning.
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What are some common mistakes people make when trying to save on taxes?
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Several common mistakes can hinder effective tax planning:
Relying Solely on Tax-saving Mutual Funds: While these are popular, limiting oneself to these funds may not optimize tax savings. Diversifying across different tax-saving instruments is advisable.
Procrastinating Investments: Delaying tax-saving investments until the last quarter can lead to hasty decisions. It's better to plan investments strategically throughout the year.
Lack of Diversification: Placing all tax-saving funds into a single asset class is risky. Diversification helps manage risks and potentially enhances returns.
Looking to seek guidance from a trusted tax planner?