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Unregister partnership firm

212 views 5 replies

suresh

article

146 Points Joined December 2015

Dear sir/madam one of my friend is doing business with his partner with yearly t/o. of rs. 450000. but they have not registered firm just doing business and every thing in equal ratio. now the question is how to file itr and doing accounting for that. whether as partnership firm or individually as proprietory return. please experts advice me regarding above matter.

Replies (5)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208776 Points Joined July 2016

Any partnership bank account?

Any trade license?.... Any other legal evidence?

suresh

article

146 Points Joined December 2015

Not any legal evidence is there sir.

suresh

article

146 Points Joined December 2015

Not any legal evidence is there sir.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208776 Points Joined July 2016

Without exact knowledge about the credits of the receipts from the business (whose account/s, or cash/bank ratio)....... I think you can file returns as individual proprietors, best adjusted to the bank credits..... under sec. 44AD, if eligible business.