If you have a home based business, will you apply for a business permit and pay for taxes before starting its operation? Or would you just do it later? I plan to register after 3 months of operating it.

Proper timing should be considered. It is not practical to register your business towards the end of a taxable period and towards the end of business permit renewal time not unless there is an urgent need to legimitize your business because of potential opportunities.

It is advisable to register only when ur business grows to a sizeable amount

I actually hadn't even given a thought to needing a business permit. Is there a specific time period or income limit that warrants the time when you have to have a permit?