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Tax Planning | Do You Need a Consultant?

Written by Akash Ranjan Dt. November 22nd, 2021


Tax planning is very important in a country like India, where tax laws are perceived to be the second most complex in the Asia-Pacific region. Tax planning not only means availing deductions but also includes finances and investment planning in such a way that the tax burden is not high.
Individuals may feel the need to take an expert’s help while submitting their tax returns to save taxes appropriately. Also, the government keeps introducing new exemptions/provisions or changes in the tax laws, which makes it even more difficult for the individual taxpayers to navigate the tax filing process.

What does Tax Planning Means:

  • It ensures mitigating the tax burden and complying with the various tax obligations.
  • It also includes analyzing the financial situation of the individual from a tax efficiency point of view.

How a Tax Consultant can help in Tax Planning:

  • Tax consultants or tax advisor helps people and the organizations in paying their taxes. They are expertise in the tax law matters, tax compliance and tax planning.
  • They possess strong skills in communication, critical thinking, complex problem solving abilities.
  • They have dedicated team for timely compliance and maintaining records.
  • They work closely with the clients, understand their complex income related to business, capital gains, etc and help clients to minimize their tax liabilities throughout the year.
  • Tax consultants have knowledge about all the tax regulations under the Income Tax Act of India.
  • They have knowledge about the government websites, legal procedures of filing returns and claiming deductions and exemptions.
  • They also provide assistance in
    • Tax documentation
    • Filing e-returns
    • Evaluating the legal and financial matters of the tax payer to determine his/her tax liabilities.
  • Completing tax forms like FORM 16, FORM 12B, etc. and submit on the website.

Benefits of hiring tax consultants

  • Saves taxes: It becomes very easy to identify the potential tax deductions in a year and advises on making strategic investments to avoid any tax liabilities in the future.
  • Be safe: It is better to seek an expert’s advice in the financial matters. Tax consultant maintains your tax records safely and in the legal manner and can provide the same anytime without any difficulty.
  • Time saving: At the end of the year, filing of Income Tax becomes very difficult for an individual and they may end up making investments decisions hastily. It takes a lot of time and effort to ensure that tax return filing has done correctly.
  • Tax Compliances: Tax consultants know the tax rules and compliances of the act very well which an individual with incomes in various heads may not be able to comply with. Hence it makes necessary to consult with an expert for effective tax planning.

Income Tax Consultant in India

Taxation is an area that requires great skill& accuracy. Our experts have the requisite knowledge to carry out tax planning, administration, documentation and representation. They are skilled to provide you with best Income Tax Consultant services in India.

G.K. Kedia and Co. Chartered Accountants is a very reputed Chartered Accountancy firm, which is located in Connaught Place, Delhi. It is the best CA firm with robust team of skilled CAs who provide consultancy on Income Tax, Accountancy, Auditing, Finance related matters and GST. Here we have dedicated team for every field, be it Tax Consultancy, Statutory Audit, Finance, Accounting, GST, Start-ups, etc.

Our trained Chartered Accountants provide easy and hassle free ways to help manage tax compliances. We aim at guiding you through your tax compliances.

Written by
Akash Ranjan
Articled Clerk

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