Partnership firm having no transaction and no bank account

This query is : Resolved 
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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.

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(Querist)
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?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 When was PAN obtained?
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CA KHUSHBU PATEL

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CA KHUSHBU PATEL (Querist)
01 August 2022 Pan obtained in March 2022
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 In that case, no excuse; nil return needs to be filed.
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CA KHUSHBU PATEL

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CA KHUSHBU PATEL (Querist)
01 August 2022 But sir without bank account how can I file?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 You may declare bank account no,. which is obtained in May; with nil balance.
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CA KHUSHBU PATEL

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CA KHUSHBU PATEL (Querist)
01 August 2022 Will late fees be applicable?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 As there was no income, no late fee applicable. Even loss, if any cannot be carry forwarded.
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CA KHUSHBU PATEL

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CA KHUSHBU PATEL (Querist)
01 August 2022 Thank you very much sir
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 August 2022 You are welcome...
.... Good Luck ...
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