Tax Planning & Advance Tax in
Gujarat

IMAK Advisory is an ICAI-registered firm of chartered accountants in Whitefield, Bengaluru, helping salaried people, NRIs, professionals and business owners across India plan their taxes within the law. Good tax planning starts in April: choosing between the old and new regimes with real numbers, using the deductions you are entitled to, planning advance tax and reviewing capital gains before the year closes.

Under the old regime, Section 80C allows up to ₹1.5 lakh for provident fund, PPF, ELSS, life insurance, tuition fees, home loan principal and similar items; from tax year 2026-27 the same deduction sits in Section 123 of the Income-tax Act, 2025. Section 80CCD(1) covers your own NPS contribution within that same limit, Section 80CCD(1B) adds a further ₹50,000, and the employer's NPS contribution under Section 80CCD(2) is one of the few deductions that also works under the new regime.

If you earn abroad or have returned to India, the first question in how to save tax on foreign income in India is your residential status for the year. Non-residents and many returning residents in RNOR status are not taxed on most foreign income; residents are, but can claim foreign tax credit for tax paid abroad under a treaty or unilateral relief by filing Form 67, and must list foreign assets in Schedule FA. Getting the year of return right, and counting travel days before the year closes, often matters more than any investment.

Advance tax is due in four instalments – 15 June, 15 September, 15 December and 15 March – whenever the year's liability after TDS is ₹10,000 or more. We prepare estimates before each date so that payments match the income actually earned. Every tax planning engagement ends with a short written plan for the year: the regime to choose, the deductions still available, the instalment dates and the documents to keep.

For investors, long-term gains on listed shares and equity funds are taxed at 12.5% above the annual exemption of ₹1.25 lakh, and short-term gains at 20%; losses can be carried forward only when the return is filed on time. For business owners, presumptive schemes, the choice of entity, timely payments to micro and small suppliers and the corporate rate option all deserve a review once a year.

Our role ends where product selling begins. We are not a SEBI-registered investment adviser, we do not recommend or sell funds or policies, and we do not take part in arrangements designed only to avoid tax or to hide income. What we give you is the tax effect of each lawful option, so that every decision about your money is made with the numbers in front of you.

We do not publish fees; our team shares the exact total after reviewing your income details. Visit us at ITPL Main Rd, Pattandur Agrahara, Whitefield, Bengaluru, Karnataka 560066, call or WhatsApp +91 79798 50684, or email imakadvisoryteam@gmail.com, and the IMAK Advisory team will compare both regimes for you and set your plan for the year.