13 May 2012
Dear Fellow Brothers, 1)On reconstitution of firm on 2.4.12, all the ex-partners i.e. partners as on 31.3.12 were retired and simultaneously new partners have been admitted.Firm is not dissolved.Now who will sign the firms itr and tds returns for the year ended 31.3.12? 2) Is there any requirement for intimating the dept regarding change in constitution? New PAN /TAN reqd? 3)In itr, in schedule of partners should we give details of new partners or the partners as on 31.3.12?
1.The firm's ITR shall be signed by the old partners and the firm will be assessed with the name of old partners in the firm.
2.Yes, till the time you do not intimate to the dept, the firm will assessed with as constituting of old partners only. However, the Firm is not required to apply for a new PAN/TAN.
3. No details is required to be given for new partners in ITR for the A.Y 2012-13.
CAclubindia
