I am currently working on a project in which i want to send mp3 or wav file to arduino uno via bluetooth (HC-05) and store that file in SD card. Is there any possible way i can do that?
Yes, everything is possible.
Firstly learn about your Bluetooth module and send any kind of data to the Arduino and see if you can receive it OK.
Secondly learn about SD card (shields or modules) and how you would write data to them.
Then put the two things together and you will be very knowledgeable about both topics.
I can assist with a YouTube video on the SD card (video #22) but I haven't got around to the Bluetooth module (but maybe your post will jolt me into making one so subscribe to my channel to get notified when I do!). URL is in the signature below this post.