Business ITR

Every company/ Firm/ Individuals doing business shall, on or before the due date, furnish a return of his income during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.

Firm

Section 2(23)(i) of the Income-tax Act, 1961 takes the meaning of the “firm " from the Indian Partnership Act, 1932. Section 4 of the Indian Partnership Act, 1932 defines a firm as under:

It is mandatory for a company to file its return of income electronically under digital signature.