Filling of Return


This query is : Resolved 

17 May 2008 Dear Sir,
I Have the following Queries
1) When a partnership firm has a Slump Sale on 01/4/07 with a Private Limited Company. Whether the partnership firm has to file the Income Tax Return for the F.Y. 2007-2008.No business activity is being carried on after 31/03/07.The firm has been dissolved immediately after slump sale i.e with effect from 01/04/2007

2) Whether in the above case the Partnership firm has to Surrender the PAN Card on account of Slump Sale if Yes than what is the Procedure

Regards

Ravi Kiran

17 May 2008
1) Yes, the partnership firm has to file the return for the F.Y. 2007-08.

2) Yes , after dissolution, the firm has to surrender the PAN card after the filing of return for the F.Y.2007-08.

17 May 2008 Dear Sir,

I have the following query mentioned below

1)Since there is no income and expenses in the name of the above Partnership firm for the F.Y. 2007-2008 Whether we have to file Nil return Please suggest

2) Where we have to Surrender the PAN Card after filling return can you provide me the address

Regards

Ravi Konda




17 May 2008
1) Yes, you have to file the return.

21 May 2008 ) When a partnership firm has a Slump Sale on 01/4/07 with a Private Limited Company. Whether the partnership firm has to file the Income Tax Return for the F.Y. 2007-2008.No business activity is being carried on after 31/03/07.The firm has been dissolved immediately after slump sale i.e with effect from 01/04/2007
------
YES , OTHERWISE HOW THE TAXABILITY OF PROFIT/GAIN ON SLUMP SALE WILL BE DETERMINED
2) Whether in the above case the Partnership firm has to Surrender the PAN Card on account of Slump Sale if Yes than what is the Procedure
-----------
AFTER DISSOLUTION OF A FIRM .......NO FIRM EXISTS....SO PAN IS TO BE SURRENDERED

21 May 2008 ) When a partnership firm has a Slump Sale on 01/4/07 with a Private Limited Company. Whether the partnership firm has to file the Income Tax Return for the F.Y. 2007-2008.No business activity is being carried on after 31/03/07.The firm has been dissolved immediately after slump sale i.e with effect from 01/04/2007
------
YES , OTHERWISE HOW THE TAXABILITY OF PROFIT/GAIN ON SLUMP SALE WILL BE DETERMINED
2) Whether in the above case the Partnership firm has to Surrender the PAN Card on account of Slump Sale if Yes than what is the Procedure
-----------
AFTER DISSOLUTION OF A FIRM .......NO FIRM EXISTS....SO PAN IS TO BE SURRENDERED


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