I am a partner of a partnership firm who has retired during the year and received my share of capital. Apart from that I have interest income from bank. Which ITR should be filed? ITR 3 or ITR 1?
CA Momin Owais Ahmed
(Audit Manager)
(154 Points)
Replied 26 June 2013
You Should file ITR 3 for this, as ITR-1 is for only Salary Income & Icome from Other Source if Any.
ANU BANSAL
("Love urself the most.........")
(2482 Points)
Replied 26 June 2013
| Originally posted by : CA Momin Owais Ahmed | ||
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You Should file ITR 3 for this, as ITR-1 is for only Salary Income & Icome from Other Source if Any. |
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agreed..........
ITR-3 is applicable under the following categories
Raghvendra Nawalgaria
(Partner)
(90 Points)
Replied 26 June 2013
But I retired before the end of the financial year and is no longer a partner as at 31.03.2013. Is ITR 3 still applicable?
CA Momin Owais Ahmed
(Audit Manager)
(154 Points)
Replied 26 June 2013
Yes, You have income from Partnership firm in the form of Interest & Remuneration, AND Exempted income i.e. Share in Profit of Partnership Firm.
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