Income tax

Dear Sir,

Section 80C and 80D deductions are available to Individual and HUF only. You can not claim such deductions for partnership firm. You can claim such deductions in the ITR of partner.

Thanks

Dear Sir,

What is your turnover?. Is it 7 lacs or 70 lacs?

Thanks

No, you can't claim these deductions as partnership from is not allowed to claim deduction u/s 80C and 80D

Sir,

If your turnover is 700000, then 8% of this turnover is 56000. This income is taxable @30% in case of firm. And those deductions mentioned in your query is applicable only for individual/HUF. Donations made to charitable trusts/funds registered under IT Act can be considered as a deduction from Total Income.

Yes you can claim deduction as mentioned above from 560000

I think there is a typo..is your turnover 7 lakh or 70 lakh?

In any case, you will not be able to claim these deductions as partnership firm is not allowed to claim deductions u/s 80C and 80D

Hope that clarifies.

Regards,

Nikhil.

Dear Sir,

80C deductions are not available to Partnership Firms. It is available to only Individuals and HUF.

In order to bring down your profit you need to get your books Audited by a Chartered Accountant.

Hi

No, these deductions under section 80C n 80D cannot be claimed by a partnership firm. You cannot claim such deductions.

can not claim such ded for firm

Dear Sir

As per section 80C and 80D deductions are only available to Individual & HUF.Partnership firm is not allowed for such exemptions.Partners can claim such deductions in their ITR.

Dear Sir,

Hope you are doing well !

Sec 80C enables an individual or an HUF to get a deduction of Rs 1,50,000 from the total taxable income. Sec 80c specified a number of investment alternatives through which one can claim a deduction of RS 1,50,000. On the other hand 80D is allowed an individual or an HUF to claim a deduction of RS 25000 through medical insurance premium.

Both deductions are not available to Partnership Firms. Hence,you cannot claim such deductions.

Thanks & Regards,

Payal Chhajed

Partnership firm can not claim these deduction ,however your can claim it in your individual ITR.