income Tax

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chirag savla (Querist)
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03 November 2009 can a non registerred firm file its income tax returns?
does income tax now a days mandate the registeration of firms.
what are the cosiquences of non-
registeration do reply.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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03 November 2009 For Income Tax The partnership firm may or may not be registered. However, the partnership must be evidenced by a partnership deed. The deed should indicate * individual shares of the partners * Salary payable to working partners * Interest payable to partners. A true copy of partnership deed certified and signed by all the partners should be filed along with the first return of income. Subsequently, the copy is not required to be filed along with every return. However, if there is any change in the partnership agreement, a fresh copy has to be filed.

For consequences of non registration see the link below.

https://www.taxguru.in/income-tax/effect-of-non-registration-of-partnership-firm.html

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 November 2009 Continuing Mr. Sanjay, a partnership firm has to file income tax return every year irrespective of the amount of income. This is a mandatory requirement.

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