Partnership Firms are required to file their income tax return each year. Under the Income Tax Act, the Partnership firm is treated as an entity separate from the Partners of the firm. Both registered partnership firms and unregistered partnership firms are required to file their income tax return. As per the Income Tax Act, a partnership can be assessed as a Partnership Firm or an Association of Persons (AOP). Only those partnerships that have a written partnership deed can be assessed as a Partnership Firm.
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