Following an eventful year of the worldwide pandemic, countless deaths, natural calamities, and sudden breakdown in the global financial sphere, the salaried employees and taxable individuals are now preparing to file the FY 2019-20 Income Taxes as March 31 is approaching!

Thus, it is high time for the individuals to obtain tax planning for FY 2019-20 and filing the taxes more conveniently all around. But, before all of that, let us discuss and know more about the tax planning procedure.

What is Tax Planning?

It is the systematic process in which the financial records, transactions, plans are analyzed by the taxation experts to effectively reduce the taxes by following all the legal aspects. Tax planning is majorly prevalent among individuals for saving hard-earned money and helping in the retirement plan.

Why Tax Planning is necessary for FY 2019-20?

In India, tax planning has become a necessity for FY 2019-20 due to the complicated circumstances that originated from the Covid-19 pandemic. A lot of difficulties have occurred, changes are made in the Union Budget of India, and the taxation slabs have been modified a bit as well.

At this time, to adopt the new changes, complications, and to save the taxes efficiently and legally, tax planning for the financial year 2019-20 has become one of the crucial financial compliances for the taxpayers.

For the salaried person especially, the tax planning has turned out to be a must-have at the time when the deadline 31st March is knocking at the door.

How we can Help you here?

At Online Legal India™, the country’s recommended financial experts and taxation consultants will provide complete guidance on ethically saving taxes. Through the Tax Planning procedure here, the taxable individuals would be assisted in Income Tax Filing, managing the financial records and transactions with Online Bookkeeping, and Annual Compliance Filing too.