Is it mandatory to file the itr of a partnership firm i
This query is : Resolved
21 March 2014
Is it mandatory to file the income tax return of a partnership firm? if yes, then if the same is not filled then what would be the consequences
21 March 2014
if not filed then all the consequence of non filling like int and penalty shall eb applicable.
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21 March 2014
Yes it is mandatory vide section 139(1)(a) of the Income tax Act,1961.
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22 March 2014
Sir if the same is not filed what would be the consequences
22 March 2014
Penalty u/s 271 F and prosecution u/s 276CC has to be faced as in the case of Ms. Jayalathia (Tamilnadu CM) and her aide Ms. N.Sasikala. Please see 'The Hindu', an English daily ,dated 21.3.2014.
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