22 March 2013
There is a partnership firm which is not registered and also does not have have PAN No. Duration of partnership firm is 1 month which was completed already. Is it compulsory to file return? If ,yes then way to file return without PAN No.?
22 March 2013
If the Firm has any taxable income I.e it has any profit after deduction of all eligible expenses as per IT act including remunaration to partners if any then it has to required to file IT return because of basic tax exemption limit to the partnership firm is 0(ZERO). If it has loss then no need to file IT Return.
As well as With out pan no you cann't submit your IT return.
Also important turnover of the firm to decide is IT return required or not. I.e in case the partneship firm's turnover exceeds the tax audit turnover limit u/s 44AB then it is required to must and should be done tax audit and has to file IT return with in due date u/s 139(1).
22 March 2013
If the Firm has any taxable income I.e it has any profit after deduction of all eligible expenses as per IT act including remunaration to partners if any then it has to required to file IT return because of basic tax exemption limit to the partnership firm is 0(ZERO). If it has loss then no need to file IT Return.
As well as With out pan no you cann't submit your IT return.
Also important turnover of the firm to decide is IT return required or not. I.e in case the partneship firm's turnover exceeds the tax audit turnover limit u/s 44AB then it is required to must and should be done tax audit and has to file IT return with in due date u/s 139(1).