Basic information on ways to save tax

1. Consult an Accountant to have all checked boxes before starting your business
2. Select a right business structure for your business.
3. Use business bank account for business income and expenditure
4. Avoid GST Registration until its necessary
5. Keep good records
6. Pay tax on time to avoid late payment penalties & use of money interest
7. Declare all your income to avoid huge tax liabilities at a time
8. Use tax pooling to reduce your exposure to use of money interest and increase your return on over payments(certain tax types are eligible to use it)