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Frequently Asked Questions

TO’s prime objective is to maximize tax savings. In fact, it helps you to decide the right tax saving investments for you keeping in view the tax efficiency.

How Tax Optimizer Helps You?

  • Understand and restructure salary components
  • Additional tax savings in current financial year
  • Taxpayer specific financial products and process to invest in them
  • Lack of authentic and relevant Tax education/information
  • Absence of personalized service
  • No information on job change implications, advance tax implications
  • Not knowing the status of past years tax returns
  • Incorrect information on PAN Card not known to taxpayer
  • Action to be taken when notice is received from ITD
  • Refund tracking/follow up

Why Tax Optimizer?

All the reasons for making a wise decision for opting for Tax Optimizer:

Why should I go for Tax Optimizer?
In our experience of more than 10 years, we have observed that most of the salaried employees pay higher taxes as compared to their tax efficient peers in the same income and age group. As per our understanding, this is primarily because they have been managing your taxes themselves instead of taking expert help. When you are ill, self-help is not sufficient and you have to consult a health expert, i.e., a doctor for accurate diagnosis and medication to improve your health. Similarly, you should consult a tax expert for optimization of your tax outgo and savings.
How is Tax Optimizer better than my current saving plan?
You might be one of the few taxpayers who actually are inclined towards tax saving. The shortcoming of pure tax saving is that its goals are limited. On the other hand, tax optimization process ensures that the financial goals of individuals are met to the maximum possible extent. While buying a tax saving product helps you save taxes, return from these tax saving investments or withdrawal can be taxable. Tax optimization helps you choose such tax saving investments and options that are tax efficient in terms of return and withdrawal as well.
Why should I pay for Tax Expert services when I have already done maximum tax savings?
Tax experts have complete and accurate knowledge of tax laws just like you must have in your domain. Since you are not as aware about tax laws as an expert, decisions made based on your own assumptions lead to loss of your hard-earned money in taxes, YOY. Changes in tax laws as well as your financial circumstances are more frequent than you would have noticed or acted upon. A tax expert helps in adapting to these changes more efficiently and accurately.
Why do you think that I am losing a lot of money by paying too much taxes?
Most taxpayers make a major mistake of underestimating the compounding value of tax loss during their working years. The monthly TDS amount reflecting in your salary slip doesn’t bother you too much. But it affects you and your family’s financial security in the long run. The compounded tax loss runs in lakhs and even crores by the time you retire. A mere saving of Rs. 3000 from your monthly TDS can increase your retirement corpus by Rs. 10,27,122, Rs. 50,85,990, and Rs. 1,94,73,533 in 10 years, 20 years, and 30 years respectively by the time of retirement. This saving in tax outflow can be used in building assets for your family.
What is the difference between common Tax Saving and Tax Optimization?
Tax Optimization’s prime objective is to maximize tax savings. However, it also helps you to match the tax saving investments with your life goals and makes you understand their impact on your finances. In fact, it helps you to decide the right tax saving investments for you keeping in view the tax efficiency, real return, risk appetite and cash flow requirements for years to come. Whereas, the Investment Companies or agents try to lure you with their flashy marketing strategies to achieve their sales targets. Tax Optimization is done by tax experts, not sales agents with sales targets.
How will TO+ help me in achieving my financial goals?
TO+ takes a 360-degree holistic approach to your personal balance sheet, profit and loss statement, and cash flows to arrive at the best possible outcomes. This involves analyzing your assets and liabilities, and your net worth. These outcomes are a function of the macroscopic and microscopic lens and in-depth analysis by our team, taking into account each and every aspect of individual financial health. This report is a comprehensive solution which balances tax optimization and financial planning. The money earned is then spent to first meet your basic needs, partly spent to meet your discretionary needs also called aspirations, and the rest is saved or invested further to meet your short, medium and long-term goals in life.
What are the benefits of Tax Optimizer+ (TO+)?
Tax Optimizer+ (TO+) is an all-in-one solution for your tax and financial planning, as well as investment needs. This is a unique and highly specialized offering with many benefits as stated below:

  1. Single Dashboard for your complete financial well-being
  2. Well established and trusted
  3. Enhances return up to 30% thus adding to your wealth
  4. Balances the maximum return and minimal risk in your journey to be rich
  5. Balances tax optimization and financial planning
  6. Prepares personalized financial roadmap customized for you
  7. Serves as financial roadmap for life with annual review
Is Tax Optimizer approved or appreciated by any agency?
TaxSpanner has a vast experience in tax optimization of salaried taxpayers. Over the last 10 years, we have helped thousands of our customers save lakhs of rupees every year. Times of India – India’s largest media and entertainment group, also trusts our expertise in tax management. Tax Optimizer case studies are being published in ET Wealth and Times of India for the last 5 years to help salaried taxpayers in reducing their taxes within the tax laws.
Can a tax expert guide me on the basis of my Company Rules as my company doesn’t allow me to do changes in my salary structure?
It is very common among salaried tax payers to assume that their company doesn’t allow them to do changes in salary structure. As per our experience, employees do not understand the benefits and full details of the CTC structure offered by their company. Moreover, if you understand the benefit not being allowed by your current employer, the same should be requested to your HR and Finance departments.
Can Tax Expert also help in proof submission to my employer?
A: It is a tendency with majority of salaried taxpayers to start assessing various tax saving investment options under Section 80C, whenever proof submission activity is just around the corner. With focus being on exhausting 80C limit, it’s highly possible that you end up investing in options that are not suitable for you. A tax expert would help you decide the right tax saving investments for you keeping in view the tax efficiency, real return, risk appetite and cash flow requirements for years to come.
What is the right way of doing tax saving investment?
The right way to invest is to match your tax saving with financial goals. Here are the key points to note:

  1. Calculate your tax liability before investing to know the scope of saving tax u/s 80C
  2. Check how much you have already contributed or need to contribute towards your existing commitments this year
  3. Link your tax saving plans with your financial goals
  4. Evaluate various products in terms of financial need, diversification and return on investment
  5. Do not restrict tax saving only to investing under Sec 80C

Proof submission activity gives you the right opportunity to not only assess options u/s 80C, but also to go beyond and explore all possible tax saving strategies available to you within the Income Tax laws. And our Tax Optimizer+ does this exactly for you. Moreover, our team would help you to get the right investment as well with our associates.

Why should I hire a Tax/Financial planner to manage my money?
A financial planner will be able to connect all of the financial dots in order to provide you with an overall plan to meet your financial goals. They have got the training and experience in all kinds of financial products and financial aspects of your life – equities, bonds, insurance, taxes, and estate planning – in order to make the right recommendations for your personal situation. A financial planner can also save you thousands of rupees in tax deductions and find higher-yielding investment products at little or no extra risk.
What is the difference between my insurance/mutual fund/real estate/investment advisor and a tax expert?
A tax expert provides unbiased tax saving advice for a fee. However, an investment agent works on a commission and towards achieving his sales targets. An investment agent who generally belongs to real estate, insurance, mutual funds and similar fields, may not have tax knowledge beyond 80C. They rely mostly on their marketing skills and not tax knowledge to lure you into buying inefficient tax saving instruments. Thus, the choice is to save on tax expert fees or be get stuck with tax inefficient and/or sub optimal return investments. This is one of the most common reasons why one ends up paying higher tax.

Ready To Optimze Tax and Build Wealth?