banner_ad

income tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 September 2016 Sir a partnership firm is not running from the last 3 years. is it compulsory to file ITR. if so, can they file all the three years return at one time.
Profile Image

CA Sumiit B Nagpal

Profile Image

CA Sumiit B Nagpal (Expert)
23 September 2016 It is mandatory to file the income tax return for firms even if there is no profit. You can file the return of AY 15-16 and AY 16-17 and not of AY 14-15 now. However, penalty u/s 271F can be levied in case of filing of return of AY 15-16 for Rs. 5000. It is advisable to file the return of AY 16-17 now and submit a return for AY 17-18 till date to the AO saying that the business has been discontinued and surrender the PAN.
Profile Image

CA Sumiit B Nagpal

Profile Image

CA Sumiit B Nagpal (Expert)
23 September 2016 It is mandatory to file the income tax return for firms even if there is no profit. You can file the return of AY 15-16 and AY 16-17 and not of AY 14-15 now. However, penalty u/s 271F can be levied in case of filing of return of AY 15-16 for Rs. 5000. It is advisable to file the return of AY 16-17 now and submit a return for AY 17-18 till date to the AO saying that the business has been discontinued and surrender the PAN.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details