A firm not file itr f. Y. 2019-20 due to no profit & no business in this year, PAN card taken in Oct 2019
Is it OK or income tax department will take action
5 Replies
Sivaramaraju G
(Learner)
(2398 Points)
Replied 31 May 2021
Whether profit or loss if it is a partnership firm then it has to file return. and you have PAN card as well. which allows to register in income tax site and filing return.
Ankit Neema
(2742 Points)
Replied 01 June 2021
Partnership firm mandatorily required to file income tax return, even in case there is no business.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 01 June 2021
Filing ITR is compulsory
Susmita Dutta, CA , CPA
(CA )
(2141 Points)
Replied 02 June 2021
It is mandatory for every partnership firm to file the return of income irrespective of amount of income or loss.
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