Tax Planning & Advisory Services
Strategic tax planning to keep your liability as low as the law allows, done before the year ends, not after.
Often used by individuals, service businesses, manufacturers and traders and startup founders.
The problem, in plain English
Most tax is overpaid for one reason: planning starts when the return is due. By then the year is over and the choices are gone.
Good planning looks at the business and the owner together. How you pay yourself, whether the business is a firm or a company, when you sell an asset and how you reinvest the gain can change your total tax far more than any last-minute investment.
Rates, slabs and exemptions change often. For example, capital gains rates and holding periods and the slabs under the new tax regime have both changed recently. We work from the current law each year and show our calculations.
R Shiva Prasad, our head of taxation law, leads this work.
Who this is for
- Business owners paying high tax on both the business and personal income
- Partnership firms and LLPs deciding how to pay their partners
- Individuals with capital gains from shares, property or funds
- Salaried people choosing between the old and new tax regimes
What we do
-
Understand your full picture
We look at your business, personal income, family holdings and plans for the next few years, not just this year's return.
-
Identify the options
We list the legal options that apply to you, such as the business structure, partner remuneration, timing of sales or reinvestment of gains.
-
Quantify each option
You see the tax saving, the cost and the paperwork for each option, side by side, before you decide.
-
Put it in place
We prepare the documents, board or partner resolutions and filings needed, so the plan holds up if questioned.
-
Review every year
Tax rules change in almost every Budget. We review your plan each year, before the year ends, when there is still time to act.
Documents you will need
- Last two years' income tax returns
- Business financial statements
- Details of investments, property and loans
- Salary structure or partner remuneration terms
- Any plans to sell assets, restructure or bring in partners
Typical timeline
A first plan usually takes one to two weeks. The best time to start is early in the financial year.
Fees depend on the work involved. We give you a clear quote before we start.
Questions we are often asked
Is tax planning legal?
Yes. Tax planning means using the choices the law gives you, such as deductions, exemptions, structure and timing. We do not offer schemes that depend on hiding income or artificial transactions.
When should I start planning my tax?
Early in the financial year. By January or February most options have closed, and you are left with last-minute investments that may not suit you.
Should my business be a proprietorship, firm, LLP or company for tax?
It depends on your profit level, how much you take out of the business, your plans for investors and how you want to pass it on. We compare the total tax for you and the business under each option.
How can I reduce tax on capital gains?
Options depend on the asset and how long you held it. They can include timing the sale, setting off losses, or reinvesting in assets the law allows. We check what applies before you sell.
Old or new tax regime, which is better for me?
It depends on your deductions and income level. We calculate both for you each year, because the answer can change with your circumstances and with each Budget.
Talk to a partner about Tax Planning & Advisory Services
Tell us where you are today. We will explain what is involved, what it will cost and how long it will take.
15+ years in practice · Three partners · Read our Google reviews
The team at TEXCA & Associates has been instrumental in streamlining our tax compliance. Their expertise and responsiveness give us peace of mind every financial year.
Related services
Book a consultation
Tell us a little about your business. We will reply on WhatsApp within office hours and confirm a time.