Save around ₹40,000 every year with a right plan
Take control of your financial future with MyTaxClub's expert tax planning. Reduce your tax liabilities on every step of the way.
Benefits of Tax Planning
E-filing your ITR with MyTaxClub provides various benefits
Maximizing Savings
Utilizing deductions and exemptions to reduce taxable income.
Avoiding Last-Minute Stress
Structured planning leads to hassle-free ITR filing.
Compliance Assurance
Meeting legal requirements and avoiding penalties.
Cash Flow Management
Strategic planning for better liquidity and cash flow.
Investment Growth
Utilizing tax-saving instruments for financial growth.
Facilitates Better Retirement Planning
Tax-efficient retirement plans, such as 401(k)s and IRAs, help in securing a financially stable post-retirement life.
Here's What You Get
Customized Tax Strategy
A personalized plan detailing eligible deductions, exemptions, and tax-saving investments tailored to financial goals.
Investment Recommendations
A list of suitable tax-saving instruments like ELSS, NPS, or PPF, based on risk appetite and lock-in periods.
Tax Computation Report
Clear calculations of taxable income, projected tax liabilities, and potential savings through planned actions.
ITR Filing Checklist
A summary of required documents, proofs, and timelines to ensure seamless income tax return filing.
Compliance Calendar
Key dates for advance tax payments, investment deadlines, and filing timelines.
Action Plan
Step-by-step guidance to implement tax-saving strategies effectively before the financial year-end.
Insights on Common Mistakes
Tips to avoid errors like late investments, underutilization of exemptions, or improper reporting.
Future-Proofing Recommendations
Advice on long-term tax-efficient financial planning, estate planning, and retirement strategies.
Advance Tax & Penalties for Non-Payment
What is Advance Tax?
Advance tax is both a legal obligation and a tool for strategic tax planning. By paying taxes based on projected income, taxpayers can avoid surprises, optimize liabilities, and make informed financial decisions.
Who Should Pay Advance Tax?
- Individuals whose tax liability exceeds ₹10,000 in a financial year.
- Freelancers, business owners, and those with significant interest income.
Penalties for Non-Payment of Advance Tax
- Section 234B: Interest of 1% per month is charged if 90% of the tax liability is not paid through advance tax.
- Section 234C: Interest of 1% per month is charged for underpayment or delay in paying each installment of advance tax.
Thanks to my CA and the entire team of myTaxClub, I was able to maximise my deductions and minimise my tax liability.
Their professional guidance was invaluable and they made the entire process smooth and stress-free.
Kudos to #MyTaxClub
TarunGupta - Lead Web Technology, Lenovo India