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Income tax return of partner of firm if firm in which he is partner have not filed return

Santosh Nalawade (Practice) (355 Points)

30 November 2015

dear all, One of my client is partner in hotel. He want to file his return. But partnership firm in which he is partner have not filed return. How can I file partners personal return. thanks in advance

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4 Replies

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 30 November 2015

Yes, Practically we wait for return of the firm. However if circumstances are out of cntrol and the dates are appoaching by, then we shall file return irrespective of return by firm

Santosh Nalawade (Practice) (355 Points)
Replied 01 December 2015

Thannk you gautam sir. But how shall I show partner's share of profit of the firm as accounts of firm are not finalised.

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 01 December 2015

File yur return either considering the notional profit from firm or ignoring it at all. However , file return within due date and wait for the firm to file its return. As we have 120 Days to send verification to CPC, there is enough scope that in the due course , the firm may file its return, and accordingly revise your return thereafter. However , if it is for sure that, the firm will be in no case , file it return , then you file your return and verify it by sending to cpc or online