Tax Glossary Definition
Firm Registration Number (FRN) – A Firm Registration Number (FRN) is a unique identification number assigned to a partnership firm when it is registered under the Indian Partnership Act, 1932, or to a Limited Liability . The FRN is used for official and legal purposes, including tax filings, regulatory compliance, and government records. For income tax purposes, a firm’s income earned during a Financial Year (FY) is evaluated and taxed in the corresponding Assessment Year (AY).
Example: Income earned by a firm during FY 2022–23 is assessed and taxed in AY 2023–24, and the firm’s FRN is quoted in all official documents and tax filings.
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