Our firm is 7 years old. We don't have PT registration for partners as well as employee. If we do it now, will it be a problem or how much penalty will come. Any one can give suggestion.
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Answer / Satish
Registering your partnership (PT) and obtaining proper documentation for employees is essential to ensure compliance with tax laws and avoid potential penalties. However, the specific penalties and consequences depend on various factors such as the nature of your business, the duration since inception, and any previous non-compliance.nnTo minimize penalties, you should consult a tax professional or attorney who can guide you through the registration process and help address any outstanding compliance issues. It is important to prioritize legal compliance to protect your firm's reputation and financial wellbeing.
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We have got 5 firms. Same partner only running all the firms. Salary is going from one firm. But if we go for PT registration it is asking number of employees. I don't know how to fill the form in online. Any one can help me?
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