It is necessary to analyze your financial condition to reduce tax incrimination. Tax planning can be very beneficial in keeping track of your benefits and tax liabilities. It also helps ensure long-term stability, keeping you aware of your current and future financial condition. Womoneysta is the best platform that helps women understand tax planning better and frees them to manage their finances. Our financial experts will introduce you to tax harvesting and give you thorough knowledge about getting a good profit.
2025 Budget Effect On Direct Tax
The new 2025 budget had a great impact on the taxpayers, it bought a lot relief for the same.
The minimum exemption limit as per the new regime 2025 is Rs 4 Lakh ( No tax payable). This is such a relief for the taxpayers, other than this a tax rebate has been increased to 12 lakhs for all earners except capital gain incomes. This has already decreased the burden of many to pay higher taxes for the lower-income holders.
The standard deduction is an amount of money deducted from the income of taxpayers, to let them hide the taxable income without any proof. The standard deduction has been increased from INR 50,000/- to INR 75,000/- for the financial year 2025.
Tax Calculation
Given below is a small example of how a tax would be calculated.
Let’s imagine your income as 10,50,000/- out of which exempt allowances will be 2,00,000/- and basic deduction as per the section 80 C ( EPF and PPF ) is 65,000/-.
Now as per the calculations the total income was 10,50,000/- and 75,000/- will be the exemption and deduction, so the taxable income will be 9,75,000/- and tax payable would be 0.
Top 5 Tips For Tax Planning In 2025
Mentioned below are the top 5 tips for tax planning, which can help you to Reduce tax incrimination.
Get professional advice
To get the best outputs you can seek help from professionals, to get proper guidance about the same. The professionals will guide you with effective ways of tax reduction, you can also seek help from womoneysta.
Income timing and Expense timing
You can pay some of your property taxes and donations in advance to make a claim, and also postpone your income a little less to your account. This will show up as a liability on your balance sheet.
Contribute to Retirement Accounts
You can contribute to 401(k), IRA, or HSA accounts to reduce the amount of your taxable salary. You can also gain more knowledge about this from womoneysta.
Tax Harvesting
Tax harvesting is a great method to sell your investments that don’t have a great value in order, this method is much more beneficial for smart and long-term investors.
Update Business and self-employment taxes
Minimize or cut off the home, office, business, mileage, and health expenses. If you own a business try the S-crop election to reduce self employment taxes.
How Womoneysta Help You With Tax Planning?
Womoneysta is the best online platform that provides financial education to women. Various courses are provided by the experts to give you a deep and thorough knowledge of tax planning. If you are looking for the best financial education platform online, get connected with us. Why is Womoneysta best to learn tax planning?
Personal finance courses
Womoneysta offers various personal finance courses for females in which effective management of money is taught. Budgeting, saving, investing, tax planning are included in the courses which are attended by the experts.
1:1 Financial consultation
The females who are facing issues regarding any finance budgeting, investing, debt, tax planning or other. They are given personal sessions with the professional who guides them to continue your work with great advice and knowledge.
No Eligibility
Womoneysta platform has never set any eligibility for the womens to get financial education from their team. Even the females with non finance background and first time investors are also given the best guidance.
Affordable and customized courses
At womoneysta you can customize your education courses as per your needs and knowledge. The pricing of all the courses is really convenient and can be afforded by anyone. Tax planning courses are attended by the expert team.