Running your own business and making a profit can be quite the balancing act for many. We often hear business owners complain of how minuscule a profit they make after all the tax-cutting. Nobody wants to part with a major chunk of their hard earned money in the form of taxes. This needn’t be the case! Let’s talk about some simple tips that can help you save money on taxes.
The Indian government regularly tweaks the existing taxation laws to make the environment conducive for startups and small businesses in general. The recent announcements of exemption from capital gains tax and angel investment taxes for startups are examples of this. It is important to be aware of these taxation laws, exemptions and other tax saving tips. As they say, you reap what you sow. With a little effort to implement these tips you can turn around the expenses incurred in your business and make substantial profits in no time.