Shreyaa Kapoor

Shreyaa Kapoor Instagram – Business owners are liable to pay income tax on the revenues generated by their venture. This can be a considerable sum! 🙌🏼

One way to significantly reduce taxes is by hiring family members. They can be paid salaries like the way other employees are paid. 🌱
If the family members who get hired by the company have no other income, then the company can pay them just Rs 2,50,000 a year. This will ensure that they don’t become liable to pay taxes. 🍀

Since the salaries paid to the employees is a cost to the company, it can be setoff against the company’s taxable income, thereby reducing the overall tax outgo of the company.🙏🏼
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#taxtips #taxation #personalfinance #business #businesstax | Posted on 25/Oct/2023 18:00:58