Tag Archives: #TaxBreaks101

Are tax planning fees deductible ?

Tax planning and management

Tax Planning Fees Deductible   Tax planning feesmay be deductible as a business expense if they are incurred for the purpose of managing and minimizing your tax liability. However, the deductibility of tax planning  depends on the tax laws and regulations of your jurisdiction. In general, tax fees that are directly related to the determination,… Read More »

What is a tax exemption?

Tax exemption

Tax exemption   A tax exemption refers to the exclusion of certain income, investments, or expenses from being subject to taxes. Governments grant tax exemptions to encourage specific activities or provide benefits to particular groups of taxpayers. For instance, in India, under Section 80TTA of the Income Tax Act, the interest earned on a savings… Read More »