Tax saving tips for firms

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This query is : Resolved

Yajuvendra Rawat (Querist)

20 February 2013 Dear Sirs & Friends,

Please give me tips to save income tax of a firm, Thanks to all in advance.

Best Regards,
Yajuvendra Rawat

UMESH KUMAR PANDEY

UMESH KUMAR PANDEY (Expert)

21 February 2013 Mr. rawat g,
Firstly clear which type of firm you have and cleared the nature as well as status of firm first to suggest for the type of saving from the tax.UMESH PANDEY,M-8802914461

Yajuvendra Rawat

Yajuvendra Rawat (Querist)

21 February 2013 Umesh Ji,

Its a partnership Firm, engaged in the business of Exports of Garments Shawls etc, Please give tips of saving tax.

Thanks

UMESH KUMAR PANDEY

UMESH KUMAR PANDEY (Expert)

22 February 2013 yes, the income of your business from partnership firm will be either taxable as in the business income under the firm and paid the tax liability.further this profit will be exempted at the hand of partners.maintained proper books of accounts and shown the possible profit from the business.
tips of saving:-
personnel:-tax saving plan,donations,exemption.etc.

final depend on the your taxable income from business.

Yajuvendra Rawat

Yajuvendra Rawat (Querist)

25 February 2013 Sir, I Know the same will be exempt in the hands of the partners. I know donations are one of the criteria through which tax can be saved. Please let me know some other ways to save tax.

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