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Income tax filing AY-18-19 : Queries
Just completed the Firm Audit file. Now can I file Individual Partners IT file for AY 18-19 related to the Firm ? And if so then can client pay the late fees for late filling as their income from this firm about 4.5 lacs or more ?
Replies (8)
There will not be any penalty for late filing of return in case of partners if partnership firm is subject to tax audit.
Yes... I agreed to Mr Komal.,
Sec 234F is not levied to the Partner who is in the Partnership Firm if Firm is under Tax Audit.
Sec 234F is not levied to the Partner who is in the Partnership Firm if Firm is under Tax Audit.
Thanks for valuable feedback.
There is a penalty for late filing of ITR in case of sleeping partner and who is not receiving any remuneration as partner in the Audited Firm
Agreed... If the working partner has a business income from proprietory concern, will 234F be levied? If not, where to disclose in ITR 3 that the firm was liable for Tax audit
@ Ganesh Murugan.,
The Partner Earn income from Proprietorship Firm then also he can avail the due date of Tax Audit Date (15/11/18). Bcoz, He will show his both income in his ITR...
Any one of the Firm is under Tax Audit then He can use another one income to Tax Audit date individually.
The Partner Earn income from Proprietorship Firm then also he can avail the due date of Tax Audit Date (15/11/18). Bcoz, He will show his both income in his ITR...
Any one of the Firm is under Tax Audit then He can use another one income to Tax Audit date individually.
what is the last of date of filing of partners Income tax returns whose firms are liable to tax audit and file there returns on 31.10.2018
Due date is 31st October 2018. The can be file 31st October 18 for the same day.
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