The Reader

From: Manjunath Gowda <associates.gowda@gmail.com>
Subject: Re: [aurangabad_ca] PARTNERSHIP QUERY
To: aurangabad_ca@yahoogroups.com
Date: Thursday, 4 February, 2010, 20:15

 

Dear Soham,

 

Yes, the partners can open new partnership with same partners to avoid tax audit u/s.44AB of the Income tax Act, 1961 and it's feasible or not, it will be discretion of concerned partners.

 

Regards

On Wed, Feb 3, 2010 at 2:14 PM, Soham Shah <soham_bshah@ yahoo.co. in> wrote:

 

 DEAR SIR,

         

THE FOLLOWING IS MY QUERY:

 

AB & CO., A PARTNERSHIP FIRM WHOSE TURNOVER IS 30 LAKHS WHICH IS LIKELY TO GO BEYOND 40 LAKHS. SO THE PARTNERS TO AVOID TAX AUDIT DECIDED TO OPEN NEW PARTNERSHIP FIRM WITH SAME PARTNERS IS THAT POSSIBLE WITH REFERENCE TO PARTNERSHIP ACT OR ANY OTHER ACT?  IF YES WILL IT BE FEASIBLE TO DO THE SAME?

 

THANKING YOU,

 

SOHAM SHAH

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