The last date for filing income tax return for partnership firm depends on whether the firm is subject to audit under the Income Tax Act, 1961. If a partnership firm does not need a tax audit under Section 44AB, the last date for filing the ITR is July 31 of the relevant assessment year. This applies to firms with straightforward income sources where total sales, turnover, or gross receipts do not exceed the threshold for audit applicability.
What is the Partnership Income Tax Return Due Date?
If a partnership firm’s accounts need to be audited (e.g., turnover exceeds Rs. 1 crore for businesses or Rs. 50 lakh for professionals, or it has opted for presumptive taxation under Sections 44AD or 44ADA but failed to meet prescribed conditions), the due date for filing ITR is October 31 of the assessment year. If the firm engages in international transactions or specified domestic transactions requiring transfer pricing reports under Section 92E, the deadline is November 30 of the assessment year. I hope you understand which is the last date for filing income tax return for partnership firm. Assist Yourself in Tax Assessments Done by Experts at NoBroker Read more What is the Last Date of Advance Tax Payment?Your Feedback Matters! How was this Answer?
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What is the Last Date For Filing Income Tax Return For Partnership Firm?
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2024-12-30T08:59:08+00:00 2024-12-30T08:59:08+00:00Comment
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