Applicable itr

This query is : Resolved

CA Aditya Shah (Querist)
Follow

31 August 2018 Hello Sir !
Now that Income Tax Return Forms have changed,
which ITR is applicable to partner of Partnership Firm?

ClearTax Says ITR 2, but i'm not too sure whether that is correct or not.Reason being there is
no 'Information about Firms in which you are partner' Tab in ITR 2.

Could you please suggest?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

31 August 2018 Prescribed is ITR-3.

Girish Aradhya

Girish Aradhya (Expert)
Follow

31 August 2018 Share of profit earned from Firm by its partners shall be treated as Business Income of the Individual Partner. Hence, ITR 3 is applicable.

CA Aditya Shah

CA Aditya Shah (Querist)
Follow

31 August 2018 Thank you Sir for the reply.!
As you rightly said, I am making the return for a partner who has income from partnership firm.
So in ITR-3 how shall i fill up the 'Balance Sheet' tab?

Girish Aradhya

Girish Aradhya (Expert)
Follow

31 August 2018 If balance sheet for individual partner is not available, just fill serial no.6 (i.e. In case where regular books of account of business or profession are not maintained).
That's it.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

N N V Satish

Pushkar Nagda

Subbiah S

Suneel Shah

AKCJ INFO

Subscribe Now

Applicable itr

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Accountant

Manager- Finance and Compliance

CA Final

GST CONSULTANT

GST CONSULTANCY