Partnership firm's return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2009
There is a partnership firm in which there are 2 partners on 01.04.2008. As on 03.09.2008 two new partners entered and also get retired on 30.09.2008.
Now i made the 3 P&L and B/s
one for o3.09.2008
second for 30.09.2008
third for 31.03.2009
As on 31.03.2009 i clubbed all the three P&L and made the return with the total profit
Now my question is whether this is a correct treatment.
How many partners i have to declare in the return ?
Whether the copies of the change in partnership deeds would be enclosed with d return
Now i made the 3 P&L and B/s
one for o3.09.2008
second for 30.09.2008
third for 31.03.2009
As on 31.03.2009 i clubbed all the three P&L and made the return with the total profit
Now my question is whether this is a correct treatment.
How many partners i have to declare in the return ?
Whether the copies of the change in partnership deeds would be enclosed with d return
24 December 2009
1)It is not a correct treatment. Only one P & L account and Balance sheet is required unless the partnership deed governs otherwise.
2)Number of partners as at year end only be shown in the IT return. If the firm is covered under tax audit constitutional changes has to be necessarily shown in clause 7(a) and (b) of form 3CD.
3) No need to enclose copy of the deed since anexure less returns has to be filed.
2)Number of partners as at year end only be shown in the IT return. If the firm is covered under tax audit constitutional changes has to be necessarily shown in clause 7(a) and (b) of form 3CD.
3) No need to enclose copy of the deed since anexure less returns has to be filed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- GST ISSUE OF INPUT AND OUTPUT GST
- Tax rate change regarding
- UDIN ISSUE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
