Partnership firm
This query is : Resolved
08 February 2014
it was a partnerahip firm consist of 2 partner. in 2006 one partner died and no incometax return filed by them yet now what was the consequenses and the remedy
thank u
08 February 2014
Whether the business was carried on after the death of the partner. You have to go through the clauses of Partnership Deed and accordingly if the heirs are to be admitted then admit the partner and file the return if it is taxable at all otherwise from the last year you can file a return of NIL Income. You might receive a notice from the ITO u/s 148 for non filing of the return in that case you should file NIL return in response to notice u/s 148
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