Every one of us is looking for options to save some extra money and saving on taxes is one way to do it. There are multiple ways to pay less income tax in our daily life. The Indian Income Tax Department allows taxpayers to save on their taxes through different media. However, to save on taxes, you need to start your tax planning in advance. The best option to pay less income tax and plan your tax-saving investments is at the beginning of the financial year. Most of the taxpayer’s delay until the last quarter of the year. Instead, if you plan at the beginning of the year, your investment can compound and help you achieve long-term goals..

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In how many ways we can save income tax in India?

Tax saving tips for a business person in India

• Distributed profit to partners in partnership firms<
• Travel or hostel expenses in business
• Food expenses in business.