Itr4

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Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2016 Sir,
Investment in Partnership firm comes under which head in ITR 4

Thanks in advance

Sandeep Dharar

Sandeep Dharar (Expert)
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02 December 2016 Investment will be shown in Firm's IT Return as capital invested by partner. Individual(partner) will show profit from firm (if any) as exempted income in his/her ITR return. Show it as income from other sources, and then in BP sheet in column 5 show it as exempted income.