HELLO FRIENDS, MY CLIENT HAS MADE A PARTNERSHIP FIRM IN 2010.
NOW IN 2013 HE WNTS TO DISSOLVE IT BECAUSE THEY HAVE NOT DONE ANY BUSINESS IN IT.
NOW I WANT TO SURRENDER THE PAN BUT NO RETURN HAS BEEN FILED TILL NOW.
CAN I FILE RETURN OF AY 2011-2 AND 2012-13 AND THEN SURRENDER THA PAN OR NO NEED TO FILE THE RETURN.
CAN I FILE NIL RETURN BLANK RETURN BECAUSE THEY HAVE NOT DONE ANY WORK UNDER IT OR I SHOW LOSS.
PLS. HELP ME.
THANKS.
@ Raj Kumar
Filling of return by partnership firm is compulsory even if the partnership firm has not carried any business and not earned any profit.
For AY 11-12 - You can file the return upto 31.03.2013. However, you may note that the penanly amounting to Rs.5,000/- as per section 271F.
For AY 12-13 - you can file the return upto 31.03.2013. As there is no income and no tax, no interest or penalities shall be imposed.
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