24 March 2021
A new partnership firm was created during Nov.2019. Till 31.03.20, no any sales were made. Only purchases and various preliminary expenses were incurred. May I file ITR 4 of the firm ? If not, preliminary expenses to be shown in which head ?
24 March 2021
Income tax Return filing is mandatory for Partnership firms. ITR 5 should be filed. ITR 4 is for individuals, HUF and Firms if they are reporting their income u/s 44AD/AADA/44AE
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