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how to reduce tax for a sole propietor business

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(Querist)
07 January 2011 hi i am doing a sole business.. my monthly net profit comes to around 125000 .. i am paying a salary of around 40000 ... how in further way can i reduce my income tax ? can i show salary to my parents or spouse from my firm ? pls help
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 January 2011 Do savings allowed u/s.80C & 80D & Housing loan will be good tax reducing way for individuals
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