Income Tax Planning Moves to Review Before Year End

Income tax planning is most effective when reviewed before the financial year closes. Individuals should evaluate eligible deductions, investment proofs, capital gains, and advance tax positions. Businesses should review expense documentation, TDS compliance, depreciation, provisions, and outstanding reconciliations. A timely review can reduce avoidable interest, improve documentation quality, and prevent surprises during return filing or assessment. Professional advice is especially helpful when income has changed, a business has expanded, or new investments have been made.