WHERE IS IT WRITTEN IN THE INCOME TAX ACT THAT FILING NIL RETURN IS COMPULSORY FOR PARTNERSHIP FIRM ?
SECTION 139(1)(a) OF IT ACT 1961 READS THAT "A COMPANY/FIRM IS REQUIRED TO SUBMIT ITS RETURN OF INCOME TAX (REGARDLESS OF THE QUANTUM OF INCOME OR LOSS)"
WHAT I UNDERSTOOD FROM ABOVE IS THAT THE ACT SUGGESTS ONLY ABOUT FILING OF RETURN OF INCOME REGARDLESS OF THE QUANTUM OF INCOME OR LOSS.
SO WHAT ABOUT THE RETURN HAVING NO INCOME OR LOSS???
Read more at: https://www.caclubindia.com/forum/is-it-compulsory-to-file-it-return-of-a-partnership-firm-377825.asp?offset=1
Read more at: https://www.caclubindia.com/forum/is-it-compulsory-to-file-it-return-of-a-partnership-firm-377825.asp?offset=1
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