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Unregister partnership firm
Dear sir/madam
one of my friend is doing business with his partner with yearly t/o. of rs. 450000. but they have not registered firm just doing business and every thing in equal ratio.
now the question is how to file itr and doing accounting for that. whether as partnership firm or individually as proprietory return.
please experts advice me regarding above matter.
Replies (5)
Any partnership bank account?
Any trade license?.... Any other legal evidence?
Not any legal evidence is there sir.
Not any legal evidence is there sir.
Without exact knowledge about the credits of the receipts from the business (whose account/s, or cash/bank ratio)....... I think you can file returns as individual proprietors, best adjusted to the bank credits..... under sec. 44AD, if eligible business.
Thank you Dhirajlal sir.
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