Whether 2 returns filed or single return

ITR Filing 350 views 2 replies

T V Srinivasa Gupta

Sr.Clerk

28 Points Posted on 24 September 2013

sir,

One partner expried during the year. and it was reconstituted with another partner taking into the partnership firm.

Now, the problem is whether Single Return of Income of the firm to be filed or more than one return of income has to be submitted.

Partner expired on 29.08.2012

the New partner was joined on 30.08.2012 by writing up a partnership deed new one means the old firm continued with other partners and also new partner.

the question is whether firm Return 01.04.2012 to 29.08.2012 One period [ ITR 5] to be filed

30.08.2012 to 31.03.2013 another period [ITR5] to be filed.

In the case of E-filling whether the System accepts the 2 Returns or not. If not what I should do?

Replies (2)

HARISH BANSAL

student

229 Points Posted on 24 September 2013

you have to file only 1 return, because the return will file by a Partnership firm with his own PAN for the A.Y. 2013-14. In any case,u can't file 2 return for a single F.Y. year.

Regards,

Harish Bansal

Guest

Dear Srinivas Gupta,

You can file only one return for an assessee for any assessment year

though you'll have to prepare and maintain seperate statements of accounts and books for the fin. year for appropriation and such purposes.. furthermore you'll have to indicate the change in partners and their address, PAN, changes in ratios, status etc in IT return for the relevant assessment year