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CA Intermediate · Taxation · Provisions for filing Return of Income and Self Assessment

Meera Textiles, a partnership firm, is required to get its accounts audited under the income-tax law for tax year 2026-27 (year ended 31 March 2027). The firm has no international or specified domestic transactions. By which date should the firm furnish its return of income without incurring a late-filing consequence?

The due date is 31 October 2027. A partnership firm that must have its accounts audited, and has no transfer pricing report requirement, must file its return by 31 October after the tax year ends. The 31 July date is for non-audit individuals, and 30 November is only for transfer pricing cases.

  1. A31 July 2027
  2. B31 August 2027
  3. C31 October 2027Correct
  4. D30 November 2027

Explanation

For a firm whose accounts must be audited under the tax law, with no transfer pricing report requirement, the due date is 31 October following the end of the tax year. For tax year 2026-27 this is 31 October 2027. 31 July applies to non-audit individuals and 30 November applies where a transfer pricing report is required, which is not the case here.

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