1. What are income tax advisory services? Income tax advisory services help individuals and businesses with tax planning, return filing, compliance, and managing tax-related obligations. 2. How can an income tax advisor help reduce tax liability? An income tax advisor identifies eligible deductions, exemptions, and tax benefits to help reduce tax liability legally. 3. What is the difference between the old and new tax regimes? The old regime allows eligible deductions and exemptions, while the new regime generally offers lower slab rates with fewer deductions. The better option depends on individual circumstances. 4. What is advance tax, and who needs to pay it? Advance tax is income tax paid in instalments during the financial year when the estimated tax liability meets the applicable threshold. 5. How can BC Shetty & Co help with income tax compliance? BC Shetty & Co assists with tax planning, income tax filing, compliance, and related advisory requirements for individuals and businesses.