This discussion clarifies the compulsory nature of filing an Income Tax Return (ITR) for Firms and AOPs when there is zero income. While generally, ITR filing is required if income exceeds a certain limit, for partnership firms, it is mandatory to file an ITR regardless of income or transactions.
09 September 2025
The following entities are required to file their tax return:
Firms, including LLP (Limited Liability Partnership) or ULP (Unlimited Liability Partnership). Every HUF (Hindu Undivided Family), AOP (Association of Persons), and BOI (Body of Individuals) has to file an Income Tax Return if their income exceeds the prescribed exception limit.
09 September 2025
No Sir...that I am aware of if the income exceeds , my question is the firm has been filing return regularly but if suppose in a year income does not exceed the prescribed limit so is it compulsory or optional
09 September 2025
No Sir...that I am aware of if the income exceeds , my question is the firm has been filing return regularly but if suppose in a year income does not exceed the prescribed limit so is it compulsory or optional