Income Tax Audit for New Partnership Firm
This query is : Resolved
11 February 2025
My client has started business of pharmaceuticals under Partnership Firm. They started the business on October 2024. In December 2024 they got the GST Registration.
They bought some materials & some fixed assets. But they do not have any sale till now & according to them this FY (2024-25) their sale will be NIL.
Is ITR filling is mandatory & if yes is audit required as they have loss arise due to depreciation on Fixed Asset & some expenses to run the business.
They bought some materials & some fixed assets. But they do not have any sale till now & according to them this FY (2024-25) their sale will be NIL.
Is ITR filling is mandatory & if yes is audit required as they have loss arise due to depreciation on Fixed Asset & some expenses to run the business.
11 February 2025
1. Yes.
2. No.
2. No.
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