What is Tax Planning?

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What is Tax Planning?

• Tax planning is the process of investigating a
  financial plan or a situation from a tax
  viewpoint. The purpose of tax planning is to
  make sure there is tax efficiency.
• Tax planning services help you to use the tax
  exemptions, deductions, and benefits offered in
  the best ways to minimize your tax liability.
  Tax planning is divided into the following
• Permissive tax planning Tax planning which comes
  under the law.
• Purposive tax planning Tax planning with a
  detailed objective.
• Long-range and short-range tax planning Planning
  is executed at the beginning and towards the end
  of the year.