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Home / Tax & Compliance / Income Tax Planning
Last updated: 2 October 2026
Tax planning is about choosing the right options the law already gives you — the tax regime, deductions, business structure and timing — and keeping records that support them. Expertvuw’s team reviews your income and plans before the year ends, not after.
Good tax planning is lawful and documented. It looks at how income is earned and when, which tax regime suits you, which deductions and exemptions you are actually eligible for, and whether advance tax is paid on time so interest is avoided.
For individuals, the new tax regime is the default and has lower slab rates with fewer deductions; the old regime allows deductions such as those for specified investments, insurance and housing loan interest. Which one works better depends on your income mix and commitments, and salaried taxpayers can choose each year while those with business income have limited switching.
The Income-tax Act, 2025 applies from 1 April 2026 (tax year 2026-27 onwards). Many concepts carry over from the 1961 Act, but section references and some forms have changed, so planning for the current year should be checked against the new provisions.
Basis: Income-tax Act, 1961 and Income-tax Act, 2025; Union Budget and Finance Act provisions on slab rates, rebate and standard deduction; CBDT guidance. Last updated: 27 September 2026.
Individuals are taxed under the new regime unless they opt for the old regime within the prescribed time.
Under the new regime, resident individuals with taxable income up to ₹12 lakh generally pay no tax because of the rebate (from FY 2025-26).
If tax payable after TDS is ₹10,000 or more, advance tax is due in instalments, with interest for shortfalls.
Rates and holding periods for listed shares, mutual funds and property were revised from 23 July 2024.
Eligible small businesses and professionals can declare income on a presumptive basis, subject to limits and conditions.
Deductions and exemptions should be backed by proofs, as they are checked against AIS and third-party data.
Most tax leakage comes from last-minute decisions and poor records, not from complex issues.
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Planning usually connects with these services.
Filing the return that reflects your planning choices correctly.
Business income, presumptive schemes and books of accounts.
Residential status, DTAA and Indian income of non-residents.
Employer-side TDS on salary and declarations.
Map every income source, expected for the year.
Work out tax under both regimes using your actual numbers.
List deductions, exemptions and timing choices you are eligible for.
Set out instalment amounts and due dates.
Update the estimate if income or plans change.
Reflect the planning in a correct, documented return.
Planning works best when it is spread across the year.
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Yes. Tax planning means using options the law provides, such as choosing a tax regime or claiming eligible deductions. Arrangements designed only to avoid tax without commercial substance can be challenged under anti-avoidance rules.
It depends on your income and the deductions you actually claim. A side-by-side calculation with your numbers is the only reliable way to decide.
Anyone whose tax liability for the year, after TDS, is ₹10,000 or more generally has to pay advance tax in instalments. Resident senior citizens without business income are exempt.
Salaried individuals without business income can choose each year when filing. Those with business or professional income have limited options to switch.
The new Act applies from tax year 2026-27. Several section numbers and forms have changed, so current-year planning should be checked against the new Act.
ACS – Director, Expertvuw Management Pvt Ltd
Tax work is handled by Expertvuw’s team. Audits and certifications required by law are issued by independent Chartered Accountants, and representation before tax authorities and tribunals is made by authorised professionals or advocates.