Tax planning is a crucial aspect of financial management for both individuals and businesses. With the expertise of Chartered Accountant Chandan Agarwal, we delve into key strategies that can help individuals and businesses optimize their tax liabilities while ensuring compliance. 1. Understanding Tax Deductions and Credits Chandan Agarwal emphasizes the significance of understanding available deductions and credits. For individuals, this might involve exploring deductions related to investments, education, and healthcare. For businesses, research into deductions for operational expenses, research and development, and employee benefits can result in substantial savings. 2. Leveraging Retirement Accounts Individuals can strategically contribute to retirement accounts such as 401(k)s or IRAs to lower their taxable income. Chandan Agarwal advises clients to take full advantage of employer matching contributions, effectively reducing their tax burden while securing their financial futu