Income Tax Planning & Compliance
Strategic tax management for corporate and individual clients.
Service Overview
Comprehensive solutions designed for your unique business challenges.
Empowering
Your Business
Proactive tax planning is better than year-end compliance. We help you structure investments, manage advance tax, and file returns accurately to minimize tax liability while staying within legal frameworks.
Strategic Excellence
Leveraging industry-leading practices for your growth.
Strategic Wealth Preservation through Tax Planning
Our tax advisory focuses on long-term wealth preservation. We analyze the tax implications of every financial decision, from capital gains on asset sales to the impact of the new tax regime. By leveraging available deductions and exemptions strategically, we ensure that your effective tax rate is optimized while maintaining full transparency with the revenue authorities.
What's Included
Annual Tax Returns
Preparation and filing of ITRs for corporates, firms, and individuals.
Investment Structuring
Advising on tax-efficient investment avenues and deduction claims.
Advance Tax Calc
Regular calculation and monitoring of quarterly advance tax liabilities.
Salary Restructuring
Designing tax-efficient salary packages for employees and management.
Common Queries
Everything you need to know about Income Tax Planning & Compliance
In-Depth Advisory
Income Tax Planning & Compliance in Gandhinagar, Gujarat
Effective income tax planning is not about tax evasion — it is about making informed decisions on timing, structure, and investment choices that the Income Tax Act 1961 explicitly rewards. Morry's Business, a CA firm in Gandhinagar, provides year-round tax planning and compliance services to individuals, HUFs, partnership firms, LLPs, and private limited companies across Ahmedabad, Gujarat, and pan-India.
Income Tax Return Filing for All Categories
The Income Tax Act prescribes different ITR forms for different taxpayer categories. Salaried individuals with simple income use ITR-1 or ITR-2; business owners and professionals use ITR-3 or ITR-4 (presumptive); companies file ITR-6 or ITR-7. Filing an accurate ITR on time avoids the 1% per month interest under Section 234A on unpaid tax and the late fee of up to ₹5,000 under Section 234F. We prepare returns for all categories, ensuring every eligible deduction under Chapters VI-A (80C, 80D, 80G, etc.) and Chapter III (exempt income) is fully claimed.
Old vs New Tax Regime: Which Is Better?
The new tax regime under Section 115BAC (made default from AY 2024-25) offers lower slab rates but eliminates most deductions and exemptions. The old regime allows HRA exemption, LTA, standard deduction, 80C (up to ₹1.5 lakh), 80D (health insurance), home loan interest under Section 24, and more. For most salaried employees and business owners with significant investments, the old regime still yields a lower net tax. We prepare a detailed tax comparison for each client before advising regime selection.
Advance Tax Planning and Quarterly Compliance
Taxpayers with income beyond salary (business income, capital gains, rental income) must pay advance tax in quarterly instalments: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Shortfall in any instalment attracts 1% per month interest under Section 234C. We calculate your advance tax liability in April itself — factoring in projected business income, capital gain events, and investment decisions — to ensure you pay exactly what is due, not more.
Salary Restructuring and Perquisite Planning
Tax-efficient salary design can reduce employee income tax by 15–25% without increasing the employer's CTC. We design salary structures incorporating House Rent Allowance (exempt under Section 10(13A)), Leave Travel Allowance (LTA), meal coupons (up to ₹50/meal exempt), NPS contribution by employer (up to 10% of salary deductible under 80CCD(2)), and other allowances — all within the framework of the old tax regime and CBDT circulars.