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Income of a partnership Firm

Neena (Accountant) (60 Points)

27 April 2010

Sir

How the returns of partnership firm is filed, what all exemptions are permitted for calculating the taxable income and the % allowed & diallowed. Thanks in advance

Neena

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7 Replies

praveen (Chartered Accountant) (6971 Points)
Replied 27 April 2010

Exemptions such as 80G, 80JJA, 80I etc are allowed to a partnership firm also.

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DT Fundas - Tarun rustagi ( Author) (1150 Points)
Replied 27 April 2010

dear neena

if the partnership is liable to tax audit in p/y then due date of filling of roi is 30th sep otherwise it is 31st july and form of filling roi is itr-5

CA Shiv (Business Controller) (2987 Points)
Replied 27 April 2010

Dear Neena,

To file a return of partnership firm there are many provisions and areas you need to see. Not only exemptions and deductions. Better consult a CA for it...

Dont take any risk by asking here. part part answer solve your query....

ALso the answer given by the above two are also right....

Nitin Grover (CS) (1228 Points)
Replied 27 April 2010

dear friends

app. agree with CA Shivang

you should consult with CA or any other Tax Consultant may be personaaly or via phone

Regards

vikash rathi (Chartered Accountant) (787 Points)
Replied 28 April 2010

Originally posted by : CA Shivang
	Dear Neena, To file a return of partnership firm there are many provisions and areas you need to see. Not only exemptions and deductions. Better consult a CA for it... Dont take any risk by asking here. part part answer solve your query.... ALso the answer given by the above two are also right....

agree with it....

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Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
Replied 28 April 2010

Originally posted by : CA Shivang
	Dear Neena, To file a return of partnership firm there are many provisions and areas you need to see. Not only exemptions and deductions. Better consult a CA for it... Dont take any risk by asking here. part part answer solve your query.... ALso the answer given by the above two are also right....