Kindly suggest solution on the following queries related to Partnership firm accounting:-
1) As per deed business start 04/02/2009 and now firm required to make accounting for the finacial year 2009-10 and required to file income tax return than kindly suggest to period which is not covered in f.y 2009-10 how can treated in accounting policy i.e 04/02/2009 to 31/03/2009.
2) local sale exemption limit on sale of firm for the f.y 2009-10.
3) for applicability of P.F AND P.T how much number of employee limitation in firm
24 June 2010
you have to considered this matter in 2 years 1 st begines from 04/02/2009 to 31/03/2009 and 2 nd from 01/04/2009 to 31/03/20010 segregate the transaction accordingly and file return
CAclubindia
