24 September 2020
Dear sir/Madam My question : In May 2018 I made unregistered partnership in Bangalore with two partner and same time I applied for PAN card. After getting PAN card I too applied for GST registration and got the same. Process was going to start the business , but after few months my partner left banglore in the month of August 2018 and due to some other personal reasons we could not started the business. In simple, apart from PAN card and GST registration, no business have bee taken place till now i.e., no sales, no purchase related to business. Since there was no business hence I did not file any income tax return for applicable period and I was aware about the GST related compliance hence I have compiled with it time to time properly and cancellation of GST registration is also done in December 2018 it self.
But now after coming to know that we need to cancel the PAN card and it is mandatory to file income tax return irrespective of income for every partnership firm.
Please help me in this situation that what I need to do for proper compliance.
CAclubindia
