Article

Corporate tax planning is essential to maximize profitability and compliance. Under current regulations, corporate taxpayers can choose between the old tax regime with various exemptions and the new tax regime with lower tax rates but fewer deductions. Additionally, start-ups incorporated in India can leverage the Section 80-IAC tax holiday which provides complete tax exemption for three consecutive assessment years.

Key strategies to consider include:
• Optimizing depreciation claims on new machinery and software assets.
• Investing in designated financial instruments and research and development projects.
• Leveraging deductions on salaries of new employees under Section 80JJAA.