Please help for tax planing of propritor ship firm
1 Income Tax Rules
2 Income Tax Act
3. Which Deduction Allowed
4 Tax Save Planing
3 Replies
Niral Gangar
(Management Consulting Investment Advisory CA Practice)
(100 Points)
Replied 10 May 2014
As per IT rules there is no difference between a proprietor and a proprietorship firm. As a proprietorship is a business you can claim all expenses for the income earned including Travelling, Telephone, car & all others which are done for furtherance of business.
All deduction u/s 80C, 80D are allowed. For eg. LIC, ELSS etc.
For tax saving you will need to meet a CA depending on your case, he will advise
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 10 May 2014
The above reply is perfect. You need a CA to plan your tax and maintain proper books of accounts.
Email : rajcdoshi @ gmail.com
Regards
RAJ CHETAN DOSHI
CA Saurabh Khatri
(Business)
(73 Points)
Replied 12 May 2014
There is a solution to go to CA or other experienced person for your specified organisation structure and they will manage your investments and savings. We also provide consultancy and technical services, and will maintain your proper records of accounts.
Contact: saurabhkhatri786 @ gmail.com
Regards
Saurabh Khatri
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