Tax planning

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Saregama India gets into big budget film production: Srcs
Saregama movies budget > Rs.40cr each: Sources
10% revs from radio rights, public performances: Srcs
Saregama's 40% revs from physical sales of music: Srcs
Saregama's 50% revs from digital music: Sources
Signs Apoorva Lakhia and Sanjay Leela Bhansali
Tied up for gas from KG basin as well: IGL
To start online CNG supply in Noida within this month
To set-up 50 new CNG stations by mid-2010
Will look to tap entire NCR area for gas distribution
Drop in ARPUs will not necessarily hit profitability
Remain interested in global acquisitions : Akhil Gupta
No 'desperation' to get into 3G if bid prices irrational
Drop in realty rentals to help enhance retail presence
All units currently operating at 100% utilisation
Goldman cuts China GDP forecast to 6%
Tariffs down 10% in last 5 yrs; don't see further drop
Depreciation in rupee negating drop in product prices
To focus on domestic mkts in 2009: Gautam Singhania
Industry taking a hit on exports: Gautam Singhania
Buys 10% stake in Kalyani Net Ventures
Don't expect any slowdown in power biz through 2009
Will buy firms that can't achieve financial closure
Sitting on enough cash to pick up stake in new projects
Budge Budge unit to be on-stream ahead of schedule
Seeks increase in duty drawbacks and DEPB by 3%
Wants a minimum ceiling of 7% on export credit
Needs an additional 2% interest subvention
Bags order from Southern Railways worth Rs.110cr
India fairly insulated due to robust domestic demand

Updated: 01/02/2008 | 06:03 PM IST

Taxation

Tax planning

KPMG

Friday, February 01, 2008 (New Delhi)

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Tax planning may be referred as the arrangement of affairs in a way to reduce the income tax liability. Tax planning is done within the legal framework- within the four corners of law, without any fraudulent intention. Tax planning involves proper compliance with laws in terms of timely filing of returns, payment of taxes etc. In tax planning, a tax payer tries to reduce his tax liability by means which are permissible. It is different from tax evasion where attempts are made to reduce the tax liability by unlawful means.

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