Filing of return of a partnership firm
This query is : Resolved
04 November 2013
Sir,
Is it mandatory to file return even a partnership firm have no taxable income. Is this rule also applicable to Individuals and Companies.
Is it mandatory to file return even a partnership firm have no taxable income. Is this rule also applicable to Individuals and Companies.
04 November 2013
Firms and companies have to file income tax return irrespective of the quantum of taxable income. This is a mandatory requirement as per section 139(1)(a) of the Income tax Act,1961.
04 November 2013
Thank you Sir,
But if in case of loss what will be the position.
But if in case of loss what will be the position.
04 November 2013
income includes the loss also
so you have to file the return
if return of loss is not filled on or before due date you will not entitled to carried forward the loss(other than depreication) for next period
so you have to file the return
if return of loss is not filled on or before due date you will not entitled to carried forward the loss(other than depreication) for next period
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04 November 2013
Thank you very much Sir
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