There are numerous opportunities for minimizing the amount of income tax you pay.

In order to achieve that, you need intelligent tax planning.

Tax planning must be a continuous exercise because many tax saving opportunities can only be made use of by carefully planning in advance.

There are many informative books by intelligent writers to provide expert guidance on tax planning.

They have discussed the different practical and tested methods of tax saving that can be adopted to have maximum benefit.

It applies to all kind of income like salary income or income from house property, capital gains or interest. Some Important rules for tax planning:

Disperse the Taxable Income

• One should try dividing the total income to the possible members of the family.
• To do that the members should show their independent sources of income and is an independent tax payer under the provisions of the Income Tax Law.
• By doing this the tax liability is lowered and money can be saved as the same income is spread among different members of the family....More