Partnership Firm - Income tax Regarding

Share This Thread
  1. M. Milton Joe

    M. Milton Joe New Member

    Dear Sir/Madam,

    I have started an educational partnership firm. The firm consists of two partners. I am about to the file for the income tax for the first time. My queries are as follows.

    1) Is it necessary to file income tax of the two partners as individuals? (Both the partners income tax are less than 2,50,000).

    2) Can I provide salary to the employee of the firm by issuing cheque? if I go for cheque are they considered as permanent employee? And then should I create EPF for the employee?

    Or Can I provide the salary by cash? Which is good for the firm.

    Kindly suggest me the basic ideas to run the firm without any problem.

    Thanks in advance.
Draft saved Draft deleted
Similar Threads Forum Date
Can we expense professional education expenditure for Managing Partner in Partnership Firm ? Income Tax Apr 14, 2018
Dissolution of Partnership Firm Income Tax Jan 2, 2018
ITR filing requirement while partnership firm is in loss and dissolving it Income Tax Sep 26, 2017
Interest on capital for Partnership firm Income Tax Sep 16, 2017
refund tips for TDS deducted in partnership firm account Income Tax Jul 17, 2017