Due Date is 30th September
Due date for a partner of a firm
Page no : 2
shabaz
(Ca Final , Mcom)
(80 Points)
Replied 31 July 2011
Due date will be 30th september in my opinion. If the partner is getting interest on capital and share of profit from a firm which is subject to audit, due date will be 31 st july. But if the partner receives remuneration along with interest on capital and share of profit, due date will be 30 th september. This is because we can calculate maximum allowable remuneration only based on correct book profit, i.e, profit from audited statements. Since the due date of firm (subject to audit) is 30 th september, book profit can be calculated after the audit is completed.
Vinay
(Articled Assistant)
(198 Points)
Replied 01 August 2011
If patner is a sleeping partner due date wil b 30th July.., whereas in case of active partner 30th september
Vikas Bansal
(C.A. Final Student)
(112 Points)
Replied 01 August 2011
31st July - Dormant partner
30th September - Working Partner
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 01 August 2011
But what abt the profit share if the due date is 31st july ? It wud not ve been computed yet by the firm.
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 01 August 2011
For Partners whose firm is having Tax Audit, the due date is also the same as is applicble to the Firm. Hence the due date shall be 30th September.
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 01 August 2011
I too agree but the act contains this provision only for working partners and not for sleeping partners. 
sanjeev
(student CA CS)
(295 Points)
Replied 01 August 2011
how it arise about the dormant working partner filing the tax return plz stste to me
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 01 August 2011
@ Sanjeev - Cant get u ??
PRIYA SAINI
(Article)
(22 Points)
Replied 01 August 2011
for dormant partner due date is 31st july & for active partner 30th september
CA,CMA,CS Karan Gogia
(Employed)
(230 Points)
Replied 04 August 2011
i think the date shud be 30 sep only...
sleeping partner can get
share of profit(exempt)
interest on capital....only after he get such interest , we can calculate his income.....
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