Choose the right structure, claim all deductions, use presumptive taxation, and invest in tax-saving instruments for optimal tax savings.
This infographic presents smart tax-saving strategies for small business owners. Select a suitable business structure for optimal tax rates. Deduct business expenses like rent, utilities, and salaries. Claim depreciation on assets. Opt for presumptive taxation (Section 44AD/44ADA) if eligible to simplify compliance. Invest in NPS, PPF, and health insurance for deductions under Sections 80C and 80D. Donations to registered charities qualify for Section 80G benefits. Maintain records to maximize savings and ensure compliance.