Filing income tax returns
This query is : Resolved
25 September 2014
What is the due date of filing Income tax Returns of working partners of a partnership firm which is required to furnish a report u/s 92E(Transfer Pricing) of the Income Tax Act, 1961.
25 September 2014
30.11.2014 for AY 14-15.....
25 September 2014
Thanks for the reply,
However,It is not clearly stated u/s 139 that the due date of filing Income tax returns of partners of the firm under Transfer pricing is also 30th nov. please let me is there any other basis of interpretation of the due date.
However,It is not clearly stated u/s 139 that the due date of filing Income tax returns of partners of the firm under Transfer pricing is also 30th nov. please let me is there any other basis of interpretation of the due date.
25 September 2014
I believe the due date shall be 30 September only. Section 139 doesn't provide for change of due date for working partners in case of firm is covered under transfer pricing.
26 September 2014
even there is no specific restriction also provided anywhere that working partners to whom transfer pricing applies have to file by 30.9 and not 30.11
26 September 2014
there is a never restriction placed Tushar..the act provides for the dates to be followed. The due dates dont change for transfer pricing cases.
Rather the Explanation 2(c) to Section 139 clearly provides that where a case is not covered under section explicitly provides that the cases not covered under other clauses of the explanation, due date shall be 31 July. So if we are to accept your argument due date should be 31 July.
Rather the Explanation 2(c) to Section 139 clearly provides that where a case is not covered under section explicitly provides that the cases not covered under other clauses of the explanation, due date shall be 31 July. So if we are to accept your argument due date should be 31 July.
26 September 2014
but it clearly mentions for those to whom audit report u/s 92E is to be submitted then due date is 30.11 pf AY
27 September 2014
30.9 or 30.11 make up your final opinion. The difference is that while providing due date for partners where firms were under 44AB audit, it is explicitly provided that due date is 30 sept. However, for 92E cases only the assessee's due date is 30.11. The partners have not been tagged along.
30 September 2014
the final opinion is same as initial opinion of 30.11.2014
01 October 2014
Dear Tushar,
The question is whether the partners in firms where 92E applies are also allowed to filed by 30.11/- I would be glad if you could share exact provisions of the Income-tax Act which permit so.
The question is whether the partners in firms where 92E applies are also allowed to filed by 30.11/- I would be glad if you could share exact provisions of the Income-tax Act which permit so.
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