Partnership firm ITR

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Even if your new partnership firm hasn't started trading, it's mandatory to file an Income Tax Return (ITR). The correct form for partnership firms is ITR 5. This requirement applies regardless of whether the firm has generated any income or not, and applies every year.

RAMDEVA RAM JYANI

RAMDEVA RAM JYANI (Querist)
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27 April 2020 Dear Sir
we Create a new Partnership firm in jan-2020. and business not started but land purchase for business in the name of firm.
i want to suggestion that-
ITR of firm is required ?
if yes then which itr form
thanks

c.bakshi

c.bakshi (Expert)
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27 April 2020 YES, itr 5 FOR FIRMS is mandatory even there is zero business

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CA Jitendra Daraji

CA Jitendra Daraji (Expert)
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27 April 2020 For Partner ship Firm ITR Form is ITR 5. To known all about Partnerdhip Firm Income tax provision you me check out at https://taxguide.club/?p=483

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