Partnership

Hi all,

While studying for my exams, suddenly got this doubt

(If) There is a registered partnership firm. Partners have earned income from that business. And within an year it got dissolved because the goal is reached and partners have parted their ways.

 

In this situation, while filing their returns, should they come together for filing tax return of partnership or is it fine if they file their individual returns showing their income as income from business?

Replies (2)

They can show their income from business. No need partners together. individually can submit.

it is mandatory to filled the return of partnership firm irrespective of profit.

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