A businessman can save tax in the following ways:

*If you want to save taxes on business travel, on your next trip, book your tickets and accommodation at the company's expense and not from your account. This is considered a business expense and can be deducted from the business's taxable income.

* Marketing expenses are eligible for tax deductions. So it’s not a bad idea to increase the marketing budget.

* Expenses related to phones, vehicles, parking fees, driver's salary, etc. are payable if they are carried out solely for professional purposes.

*Premiums up to Rs 25,000 paid towards medical insurance can be claimed for tax deductions under Section 80D of the Income Tax Act, 1961. You can cover your spouse, your children and your parents under this law. This does not apply if you run a startup alongside a full-time job for which the employer provides medical insurance coverage.

*In order to save tax by donating, you should donate to registered charities and funds such as the Prime Minister's Relief Fund.

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