Reconstitution of firm


This query is : Resolved 

Quick Summary
When a firm is reconstituted due to the admission of a new partner, you don't need to inform the Income Tax Department separately before filing your return. Simply mentioning these changes within your Income Tax Return (ITR) is sufficient. While older rules might have suggested attaching revised deeds, current procedures allow for these updates to be reflected directly in the return, ensuring compliance and access to tax benefits.

21 December 2023 in case of reconstiution of firm, due to admission of new partner, do i need to inform income tax department before return of income is filed? or mentioning such changes in the return of income is sufficient under section 184 and its relevant rule.
i noted that most of the forms mentioned in the rules assosiated with section 184 has been omitted, also though 184(4) says one have to attach revised deed with the return but it is prohibited under other rules. so what i need to do to be on the safe side of law and rip all the benefits of income tax law.

23 December 2023 No need to inform income tax department before return of income is filed. Changes can be mentioned in ITR.


26 December 2023 Thank you sir, for all the help. you are great

26 December 2023 You are welcome...
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