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CA Rahul Nahata
•

Upwork • 1d

📌 Why Tax Planning is Crucial: A Real-Life Client Insight Tax planning is not just about saving taxes—it’s about avoiding penalties, improving cash flow, and gaining financial clarity. Here’s a recent case we handled that shows why timely tax planning matters: 🚨 What Went Wrong? One of our clients, with income from salary, business, and capital gains, waited until the last filing date for their Income Tax Return (ITR) without proper planning. The result: 💸 Interest on late tax payments: ₹45,000 (u/s 234B & 234C) 😰 Stress & cash flow crunch due to last-minute tax liability ❌ Missed deductions & exemptions 🔧 Our Solution: For FY 2025-26, we created a comprehensive tax planning strategy, including: 📊 Quarter-wise advance tax calculation 📝 Optimizing deductions (80C, 80D, etc.) and comparing with the new tax regime to choose the better option 💹 Planning capital gains with indexation benefits (for land & shares) 📈 Monitoring income from all sources to avoid surprises ✅ The Result: Zero late interest charges (advance tax well-planned) Cost savings of ₹45,000 Clear financial roadmap for the year 💡 Key Takeaway: Waiting till the last date to file your return = Paying extra! Start your tax planning for FY 2025-26 now and file your ITR for FY 2024-25 on time to avoid interest & penalties.

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•

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Happiness is: Getting approached by your crush ❌ Receiving your income tax refund after filing ITR ✅ PS: File your ITR before the month end guys 🙃

2 Replies

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What's your last date of income tax return filling?

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