Tax Planning

Types of Tax Planning

• Short-Term Tax Planning: Tactics applied and implemented within a fiscal year to reduce tax liabilities for that period.
• Long-Term Tax Planning: A continuous process of strategizing for future tax years, often involving investments and retirement planning.
• Permissive Tax Planning: Using provisions, deductions, exemptions, and rebates allowed by tax laws to reduce liabilities.
• Purposive Tax Planning: Structuring financial activities in a way that achieves specific objectives, such as setting up tax-saving investments.