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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

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Google Reviews, 4.9 Star

4.9 ★ Google rating from 12,500+ reviews

Are you struggling with one of these questions? You definitely need Tax Planning!

Tax Liability icon

Is there a way to minimise my tax liability as a professional or a business owner?

Tax consequences icon

What may be the consequences of the new tax regulations and laws on my status as a taxpayer?

Handle Foreign income

How to handle taxes from my foreign income and assets, and tax treaties between India and other countries?

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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.

  1. Solution for all income types (Salaried, Business, Freelancers, Share traders, Futures and Option traders, and many more)

  2. Basic plan starts from only INR XXX

  3. Explore TaxSaver Pro and Advance plans for in-depth assistance

  4. Every potential tax-saving investment option in one report

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We are India’s Highest Rated Platform for Tax Compliance

Niranjana Sharma

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.

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4.7

Google Reviews

4.7 rating star
Rohan Bauruah

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.

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Google Reviews

5 rating star

5.0

Subham Saurabh

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.

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4.9

Google Reviews

4.9 rating star

How it works

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Choose Tailored Plans for Your Tax Planning Needs

Basic Tax Planning (DIY)

Are you looking for an affordable tax planning solution? Try our DIY plan that delivers extensive benefits on a small budget. Maximise your financial potential with TaxBuddy - your exclusive access to tax planning resources!

Free

/ Year

₹499

*Exclusive of Taxes

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Tax planning (DIY)

Maximize your financial potential with TaxBuddy - your exclusive access to tax planning resources.

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)

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TaxSaver Pro

*Exclusive of Taxes

₹1,694

For salaried taxpayers

Old v New tax regime: Which is best for you?

Increase saving by salary restructuring

Tax saving opportunities suited to your goals

Bifurcation of HRA calculation

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TaxSaver Advance

*Exclusive of Taxes

₹2,542

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

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Advance Tax calculation

*Exclusive of Taxes

₹847

Advance tax calculation based on source of income

Quarterly review

Assistance with Challan payment

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TaxSaver NRI

*Exclusive of Taxes

₹4,236

Guidance for taxation on foreign investments

Tax implications on NRO/NRE account

Applicability of  DTAA provisions

Optimizing tax strategies for managing RSU/ESOP including advance tax calculations on sale

Understanding residential status as per Indian law

*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 2022-23((AY 2023-24)
Maximum limit
Who can invest?

Section 80C

Popular investment options such as PPF, LIC, Mutual Funds, FD, Sukanya Samriddhi Account, child
Upto Rs 1,50,000
Individual Or HUF

Section 80CC

Pension Funds
Upto Rs 1,50,000
Individuals
Atal Pension Yojana and National Pension Scheme Contribution
Upto Rs 1,50,000
Individuals

Section 80CCD(1B)

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

Section 80GGA

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

Section 80GGC

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

Section 80QQB

Royalty Income of Authors
Rs.3,00,000/- Or Specified Income - whichever is lower
Individuals (Indian citizen or foreign citizen being resident in India)

Section 80RRB

Royalty on Patents
Individuals (Indian citizen or foreign citizen being resident in India)
Individuals (Indian citizen or foreign citizen being resident in India)

Section 80TTA

Interest earned on Savings Accounts
Upto Rs. 10,000
Individual Or HUF (except senior citizen)

Section 80TTB

Interest Income earned on deposits(Savings/ FDs)
Upto Rs. 50,000
Individual over 60

Section 80U

Disabled Individuals
Normal Disability: Rs. 75,000/- Severe Disability: Rs. 1,25,000/-
Individuals

Frequently asked questions

Q

Who needs tax planning?

A

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.

Q

When is the apt time to start tax planning?

A

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.

Q

I know nothing about taxes; how can I start tax planning?

A

The best way to do it is by working with a seasoned tax planner who understands your financial situation and offers personalised advice.

Q

How can you save tax in India?

A

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.

Q

Why should I bother with Tax Planning?

A

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.

Q

Apart from 80C, what other ways can I save on taxes?

A

Beyond Section 80C, there are several avenues for tax savings. You can consider:

  • 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.

  • 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.

Q

What are some common mistakes people make when trying to save on taxes?

A

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?