Tax Optimizer (TO) helps you optimize taxes, i.e., to plan and save more tax within your CTC. It also helps to cut your tax outgo by restructuring income, expenses and investments for deduction in the year based on the tax laws (Click here to know more). TO’s prime objective is to maximize tax savings. In fact, it helps you to decide the right tax saving investments for you keeping in view the tax efficiency.

TO+ helps in selecting the right investment option and amount to be invested depending on the financial goals, net worth and income. The investments, expenses and income should be planned as per projected cash flow e.g., if there is monthly cash surplus of Rs. 1 lakh then one should plan for SIP, RD instead of keeping funds in savings account @4% interest. Tax optimization without identifying and matching the goal is short term view on your financials, i.e., saving tax only for that particular year. We recommend to take the investment decisions including the tax saving investments on long term basis and keep reviewing annually. TO+ also helps in diversification of assets in the right proportion to get higher returns with moderate/low risk. Insurance planning is part of TO+, i.e., providing adequate insurance for life based on the financial liabilities and cost of insurance. It further informs about the tax efficient options for regular income during retirement life and how much to contribute towards each option. Tax2Wealth – To compute and compare the return on investment and replace them to generate superior post tax returns is the ultimate goal of TO+.

TO helps you optimize taxes, i.e., to plan and save more tax within your CTC. It also helps to cut your tax outgo by restructuring income, expenses and investments for deduction in the year based on the tax laws (Click here to know more). These recommendations are tax efficient but not necessarily as per your financial goals. The investments, expenses and income should be planned as per cash flow. The asset allocation and investment amount in the same is best possible if we know your current asset position as well as financial goals. This helps in diversification of assets and insuring life and health risk profile. TO+ takes a 360-degree holistic approach to your personal balance sheet, profit and loss statement, and cash flows to arrive at the best possible outcomes. This involves analyzing your assets and liabilities, and your net worth. These outcomes are a functions of the macroscopic and microscopic lens and in-depth analysis by our team, taking into account each and every aspect of individual financial health. This report is a comprehensive solution which balances tax optimization and financial planning.

Yes, everything suggested by the tax experts at TaxSpanner is under the purview of IT Act.

There are 25+ other components available in the Tax Optimization Report, apart from 80C which will help you in saving tax as per the IT act.

We always advise our customers to stay in a rented house and give their own house, which has been acquired by opting for home loan option, on rent. This gives them tax benefits u/s 80C as well as entitles them to avail loss on house property which reduces their taxable income and in turn the taxes. Ideally, home loan on rented property helps in saving almost 20% of the total taxes, making it a very lucrative tax saving option.

Medical deduction under section 80D is the least used tax benefit due to ignorance on the part of most salaried persons, who rely on the basic medical coverage provided by the employer applicable only when one is employed with them. Moreover, the actual medical bills are way higher than basic medical cover, i.e., Rs. 3-5 lakhs provided by the employer. Hence, as part of tax optimization, we recommend the best medical insurance and tax saving plan applicable to you and your family.