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Filing of returns by partners where firm's accounts are required to be audited-Assessment year 1989-90
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....eral of Income-tax. Subject: Filing of returns by partners where firm's accounts are required to be audited-Assessment year 1989-90. Under the existing provisions of section 139(1) of the Income-tax Act, 1961, as amended by the Direct Tax Laws (Amendment) Act, 1987, with effect from April 1, 1989, a partnership firm, whose accounts are required to be audited under the Income-tax Act, o....
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....ly with effect from April 1, 1989. The Bill will come up for consideration in the next session of Parliament. However, as an interim measure, it has been decided that partners of such firms may also be allowed to file their returns by 31st October, 1989. A press note to this effect was issued on 24th August, 1989**, for the general information of the taxpayers that such partners can also file thei....
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....nbsp; ANNEXURE Under the present provisions of section 139(1) of the Income-tax Act, 1961, the due date for filing the return of income in the case of an assessee, whose accounts are required to be audited under the Income-tax Act or u....
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....situations, the Government has taken a decision that the persons who are partners in the firms, whose accounts are required to be audited, can also file their returns by 31st October. The Direct Tax Laws (Second Amendment) Bill, 1989*, introduced in Parliament on August 18, 1989, during the last Monsoon Session, contains a provision by which section 139(1) is proposed to be amended retrospectively....