Income tax implications
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2015
Respected Members please help on below matter.
Father and son were doing business together as partners(were partners. Income tax returns was filed as partnership firm upto ass year 2014-15.
During FY 14-15, Father died (June 2014) and now son is doing business himself.
Please tell how to file income tax returns for AY 15-16
Turnover is more than 3 Crores and upto june was 45 lakhs.
Please help
Father and son were doing business together as partners(were partners. Income tax returns was filed as partnership firm upto ass year 2014-15.
During FY 14-15, Father died (June 2014) and now son is doing business himself.
Please tell how to file income tax returns for AY 15-16
Turnover is more than 3 Crores and upto june was 45 lakhs.
Please help
01 April 2015
you need to file itr for firm for all income till he was alive in fy 14-15 and balance for yourself only as firm disolves on his death.
additinally u need to file his personal itr as legal presentative assessee also.
additinally u need to file his personal itr as legal presentative assessee also.
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