25 December 2018
An assessee has a turnover of Rs. 1.5 crore for FY 2017-18 and he is a partner in another firm. Whether he can file ITR 3 with Net profit @ 6% or he should file ITR 4 as turnover exceeds 1 crore?
26 December 2018
Since the assessee is partner in a firm, he should file ITR 3. He may opt for 44AD or get his books of accounts audited as his turn over is more than Rs. 1 crore.
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