Dissolution of partnership

Tax queries 649 views 2 replies

ours is a partnership firm with 3 partners.It is a 25 yr old firm. for the last seven yrs no books are maintained and no tax has been paid.we have a PAN no and intend to dissolve the firm and start afresh.how to do the same and escape from IT act, help.

Replies (2)

We can throw light on this, let your senior people can approach-proivde your contact details-email/telno

Does the firm have any immovable assets in its name?  If so, there would be capital gains tax liability.  Take the advice of a tax consultant.


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