tax planning pdf | ninciclopedia.org – Personal Finance Investment IdeasThis is a short 43 slide power point presentation in pdf which covers all the tax saving sections and investments applicable for tax payers. But before that lets look at the changes that happened in Income Tax laws in Budget Rs 50, interest income for senior citizens tax exempted under newly introduced Section 80TTB. For Details of changes read: 13 changes in Income Tax laws from April 1, Mentioning Some Points I am frequently asked. These 3 are the most popular sections for tax saving and have lot of options to save tax. The maximum exemption combining all the above sections is Rs 1.
Personal and Family Tax Planning
It is a private company whose shareholders are family members. A FIC enables parents to retain control over assets whilst accumulating wealth in a tax efficient manner and facilitating future succession planning. The company could be set up as a UK unlimited company rather than a UK limited company, in order to reduce the filing requirements. An unlimited company will not have the same protection from creditors as a limited company although, assuming that the only assets held by the company are, say, investments and not property for example , it is unlikely that claims will be brought against the company. In addition, where assets were held prior to 1 January , an indexation allowance will be available to reduce the gain chargeable to tax.