Dissolution of partnership firm

partnership firm dissolved in last yr and converted  in to pvt ltd company this yr. bt still v r receiving amount from debtors in in bnk a.c registered under firms name. how to deal with it? r v required to file it return for firm this yr?? 

Replies (2)
Thanks for the query Mounika,
There are two issues out of your query,
1. Requirements regarding filing of ITR for a dissolved firm in previous years other then the relevant P.Y.
2. Treatment of receipts on account of such dissolved firm in there bank account.
For first, If that sum was presented to tax on accrual basis no need to file tax return
*on receipt of amount from debtor.
2. Sometimes closures of accounts take time in case of a dissolving enterprise even after its legal closure, such as above cash receipt from a debtor too, which will be distributed among the contributors.

Hope above explanation helps, in case of any issues please revert back, though I understand your concern regarding Financial statements of the firm, it should not affect the case of yours in anyways.

Thanks,
Abhimanyu

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details