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Page A-269
1. Short-Term Tax Planning
This involves planning and executing tax-saving strategies towards the end of a financial year to reduce tax liability for that specific year. For example, individuals may invest in eligible instruments like ELSS, life insurance, or National Savings Certificates before March 31st. It is often reactive in nature, focusing on immediate savings rather than long-term financial growth. However, it helps ensure that taxpayers don’t miss out on available deductions within the financial year.
Page A-496
1. Short-Term Tax Planning
This involves planning and executing tax-saving strategies towards the end of a financial year to reduce tax liability for that specific year. For example, individuals may invest in eligible instruments like ELSS, life insurance, or National Savings Certificates before March 31st. It is often reactive in nature, focusing on immediate savings rather than long-term financial growth. However, it helps ensure that taxpayers don’t miss out on available deductions within the financial year.