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ONLINE CLOSURE OF PARTNERSHIP WITH INCOME TAX DEPARTMENT

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TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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01 December 2021 Dear Sir,
Since last so many years we dont have any business but every year we have to file ITR-5 with NIL balances. What to do for closure of the said partnership firm with subject to income tax rules and regulations.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 December 2021 1. First make dissolution deed by mutual consent of all the partners.
2. Settle the account, with third party liabilities, if any.
3. File the return till the date of dissolution.
4. Surrender PAN to ITO along with a copy of Dissolution Deed.

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TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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01 December 2021 tks with kindest regards

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 December 2021 Most Welcome.

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