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Income tax

30 March 2017

A partnership registered and has PAN dtd 01.08.14. It started purchasing assets for restaurant after september 2014 and the first sale was in july 2015. can i file a nil itr return for fy 2014-15 and AY 2015-16

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4 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 30 March 2017

It is mandatory for partnership firm to file return. FYI fy 14-15 and ay 15 are one and the same.

Ravi Jha (3 Points)
Replied 30 March 2017

if i file a nil retrun will it attract any sort of querry from incomke tax deptt afterwards

Studentsca (CA Practice ) (3577 Points)
Replied 30 March 2017

It won't. However if you don't file the return you can expect a notice as the department has NMS-Non Filers Monitoring System. Tomorrow is the last day so hurry up.