Partnership firm having no transaction and no bank account


This query is : Resolved 

Quick Summary
This discussion addresses whether a partnership firm, incorporated in March 2022 and obtaining its PAN the same month, needs to file a nil tax return for the financial year 2021-22, despite having no transactions and opening its bank account in May 2022. The consensus is that a nil return must be filed. It's advised to declare the bank account number obtained in May, even with a nil balance, and confirm that no late fees apply as there was no income.

01 August 2022 Urgent
partnership firm incorporated in march ending 2022
bank account opened in may 2022
there were no transactions in F.Y. 2021-22
do i need to file nil return?

01 August 2022 When was PAN obtained?

01 August 2022 Pan obtained in March 2022

01 August 2022 In that case, no excuse; nil return needs to be filed.

01 August 2022 But sir without bank account how can I file?

01 August 2022 You may declare bank account no,. which is obtained in May; with nil balance.

01 August 2022 Will late fees be applicable?

01 August 2022 As there was no income, no late fee applicable. Even loss, if any cannot be carry forwarded.

01 August 2022 Thank you very much sir

01 August 2022 You are welcome...
.... Good Luck ...


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details