Due date of income tax return a.y.-18-19

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Pintesh Padrat (Querist)

12 June 2018 Respected Sir

if in our co. total 3 partner but 1 partner has we have not given remuneration and we have liable to to audit so please told what is a due date ??????

please do needful .

Amol S Joglekar

Amol S Joglekar (Expert)

12 June 2018 since firm is tax auditable, partners due date is that of firm's, irrespective of whether remuneration is given or not

Pintesh Padrat

Pintesh Padrat (Querist)

12 June 2018 ok thank you sir

can u please tell me what is definition of Working Partner .

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

13 June 2018 Due date of partner with out remuneration is 31-07-2018 and for working partner
with remuneration it is 30-9-2018.
Inference - explanation 2 (a)(iii) of 139(1).

Amol S Joglekar

Amol S Joglekar (Expert)

13 June 2018 Explanation 2 (a) (iii) of section 139(1) : A working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force, the 30th day of September of the assessment year.
Please note that REMUNERATION is NOT the decisive factor as to decide whether or not the partner is "working" or "sleeping" The working partner means the partner who is ACTIVELY engaged in the affairs of the business of the firm

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