I have a new manufacturing business constituted as a partnership firm. Manufacturing commenced in Feb 2023. Now I have to convert my form into pvt Ltd company to take the benefit of sec 115BAB. Can I do so as the due date for filing return has lapsed?
4 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14803 Points)
Replied 09 August 2023
What type of Business ?.( Manufacturing of what ?) because some business are not eligible for benefits of section 115 BAB of the income tax Act.
Zain Ali Narsinh
(5 Points)
Replied 09 August 2023
Please read carefully. I have mentioned manufacturing in my query. Thanks for your reply.
prasad Nilugal
( GST Practitioner & Accounts )
(14803 Points)
Replied 10 August 2023
Have you filled income tax return as partnership firm for F.Y 22-23 , A.Y 23-24 ?.
Zain Ali Narsinh
(5 Points)
Replied 10 August 2023
No, I have not filed the return for the firm for FY 22-23 yet.
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