Due date for a partner of a firm

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Due Date is 30th September

Replies (25)

Due Date is 30th September

Due date will be 30th september in my opinion.  If the partner is getting interest on capital and share of profit from a firm which is subject to audit, due date will be 31 st july.  But if the partner receives remuneration along with interest on capital and share of profit, due date will be 30 th september. This is because we can calculate maximum allowable remuneration only based on correct book profit, i.e, profit from audited statements. Since the due date of firm (subject to audit) is 30 th september, book profit can be calculated after the audit is completed. 

If patner is a sleeping partner due date wil b 30th July.., whereas in case of active partner 30th september

31st July - Dormant partner

30th September - Working Partner 

But what abt the profit share if the due date is 31st july ? It wud not ve been computed yet by the firm.

For Partners whose firm is having Tax Audit, the due date is also the same as is applicble to the Firm. Hence the due date shall be 30th September.

I too agree but the act contains this provision only for working partners and not for sleeping partners.

how it arise about the dormant working partner filing the tax return plz stste to me

@ Sanjeev - Cant get u ??

for dormant partner due date is 31st july & for active partner 30th september

i think the date shud be 30 sep only...

sleeping partner can get

share of profit(exempt)

interest on capital....only after he get such interest , we can calculate his income.....


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