IS IT MANDATORY TO INFORM INCOME TAX AUTHORITY, IF THERE IS ANY CHANGE IN PARTNERSHIP DEED???? IF YES THEN WHICH SECTION DEALS WITH IT?? AND IS THERE ANY SPECIFIC PROCEDURE FOR THAT???
THANKS .
shikhar (LEARNER ) (1394 Points)
18 February 2013IS IT MANDATORY TO INFORM INCOME TAX AUTHORITY, IF THERE IS ANY CHANGE IN PARTNERSHIP DEED???? IF YES THEN WHICH SECTION DEALS WITH IT?? AND IS THERE ANY SPECIFIC PROCEDURE FOR THAT???
THANKS .
Chakravarthi K
(kchakravarthi2008@gmail.com)
(112 Points)
Replied 18 February 2013
Yes. It is mandatory to inform the change in partnership in the subsequent income tax return, and there is a specific column in ITR-5 to mention these particulars.
shikhar
(LEARNER )
(1394 Points)
Replied 18 February 2013
CMA Ashutosh Kumar Gupta
(Unit Financial Controller)
(1015 Points)
Replied 18 February 2013
Please refer to Section 184 of the ITA alongwith the reference cited by Mr. Chakravarthi, hope will satify your query.
Regards
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