PARTNERSHIP FIRM DEDUCTION IN INCOME TAX

This query is : Resolved 

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This discussion clarifies the tax deductions available to partnership firms for the Assessment Year 2020-21. It confirms that partnership firms are not eligible for deductions under Section 80C. However, they can claim deductions for expenses like salaries paid to partners, remuneration, and interest.

23 December 2020 DEAR SIR
I WANT TO KNOW WHICH DEDUCTION I TAKE IN PARTNER SHIP FILLING INCOME TAX RETURN A.Y. 2020-21 PLEASE TELL ME
THANKS

27 December 2020 PARTNERSHIP FIRM WILL NOT GET ANY DEDUCTION BENIFIT UNDER 80C

02 October 2021 No other deduction a firm can claim other than salary to partners, remuneration & interest paid etc...


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