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Nil return of partnership firm

anupama (industrial trainee) (79 Points)

31 March 2019

A partnership firm having no business activity in AY 18-19 is required to file ITR?
If yes what are consequences if not filed upto 31 March 19?

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3 Replies

ca.nsrawt (Legal Consultancy) (256 Points)
Replied 31 March 2019

Dear Anupama,
Yes, you should file NIL itr otherwise query can be raise by IT Dept, just for clarify reason for Non Filing ITR...
Regards,
Naveen Singh
9716822331

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anupama (industrial trainee) (79 Points)
Replied 31 March 2019

Thankyou Naveen Sir.

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 31 March 2019

other than individual and Huf evety other assessee is required to file IT Return whether or not he has income as there's no basic exemption applicable to such assesses. they have to pay tax even if they have nominal income

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