Partner ship
Pramod Kuruvatti (136 Points)
27 October 2018
i am a partner in 2 firms whos books are got audited is it compulsory that i should also file ITR within 31st oct 2018
8 Replies
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 27 October 2018
Yes you are also liable to file your income tax returns if your income exceeds maximum amount not chargeable to tax by 31 October 2018.
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 27 October 2018
In case you are filing it belatedly, penalty u/s 234F will be levied
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 27 October 2018
Yes. exactly the above penalty
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 27 October 2018
You are most welcome.
Jatin
(Accountant)
(3479 Points)
Replied 27 October 2018
If your income upto Rs. 5 Lac, then late fee only Rs. 1000 till 31.03.2019
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