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Hello dear Expert A person involve in Partnership firm which is audited and individual firm. My question is individual firm return file upto 31 July 2018 and partnership firm is a audited so that date is 30 sept so how can I take remuneration and profit share from partnerships firm for there individual return ? Please suggest me
Replies (3)
Due date for partners in given case will be 30th September. So you may file return of firm and then file partners return.
For a Partnership firm liable to tax audit -Due date of filing return is Sep 30.In such cases due date of filing return of partners in such firms are also extended up to sep 30 th.
In other cases ie firm not liable to tax audit due date is July 31 st. In such cases partner has to show salary,Interest on capital and share of profit from firm(exempted under sec 10) in his return and file ITR before July 31 st.
Yes... I agreed to above said replies.
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