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Deduction u/s 80-ic

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 June 2014 Dear Sir/Madam,

I have the following query:
Mr. X is having a Proprietorship Concern in Parwanoo. He started in 2010. Now he wants to convert it into a partnership firm. He intends to add 2 partners & he wants to take a new industrial shed on rent. Kindly advise whether, the new firm can avail benefit U/s 80-IC and claim deduction @25%.
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Rupesh Jain

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Rupesh Jain (Expert)
30 June 2014 yes new firm can take deduction u/s 80IC
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