Propritor ship firm income tax rules and acr

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

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

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