Tax Planning for FY 2014-15 (AY 2015-16)

The Tax Planning Presentation for FY 2013-14 – Tax Planning: How to Save Taxes for FY 2013-14 (AY 2014-15) was huge success. It was one of the most viewed presentation on Slideshare and had more than 3 Lakhs downloads from this site.

Budget 2014 presented by the Finance Minister Arun Jaitley on July 10, 2014 had following major changes in the income Tax:

  1. Income up to Rs 2.5 lakhs for General Public and up to Rs. 3 lakhs for Senior citizens are now exempted from paying Income tax. Earlier this limit was Rs 2 Lakhs for General Public and rs 2.5 Lakhs for Senior Citizens.
  2. The exemption limit for investments under section 80C has been raised from Rs 1 Lakh to Rs 1.5 Lakhs. 
  3. The exemption on paying interest on Home Loan has been raised from Rs 1.5 Lakhs to Rs 2 Lakh.

The presentation below incorporates the above changes.

[button link=”” size=”large” style=”download” color=”darkcyan” text=”light”]Download Tax Planning eBook for FY 2014-15 [AY 2015-16] (2.63 MB)[/button]

The New Modi Government at the center would be presenting budget 2014 sometime in July and then there might be some changes in the Tax laws. We would be editing this Presentation accordingly.

Common Thoughts About Taxes
Common Thoughts About Taxes

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12 thoughts on “Tax Planning for FY 2014-15 (AY 2015-16)”

  1. Hello Amit,

    I need a clarification with regards to Meal Coupon (TR & Sodexo). My company taxes me if i take more INR1100per month but as per your deck it should INR2200. So could you please explain me or provide me the souce which of this amount so that I can forward that to my payroll team.


    1. There are no set rules. It just says you can provide free meal coupons. Now if the company assumes that they are paying Rs 50 per meal for 22 working days and for one meal only, the amount comes out to be Rs 1100. Some companies can assume 2 meals and the amount comes out to be Rs 2200. It depends more on company policies and timings.

  2. Dear Amit,
    I read,watch & try to understand the Tax Planning conveniently. This is very useful to me. Thanking You.

    Ketan Doshi

    1. I would be posting the Tax Planning for FY 2015-16 by last week of March so that we all can start planning for next FY from April 🙂

  3. Hello Mr. Amit,

    Very nice presentation. Also the Income tax calculator. Do you also have income tax calculator for professionals and service providers? If not, will you please create one and post it? Also it will be a good idea to provide tips to the professionals who are working independently as professionals on how to calculate income tax and how they can plan for retirement.


    1. Thanks!

      Income tax for professionals are much more complex though they also have better chances of saving more taxes! I would try to do further research on the topic and post on the blog!

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