Can a firm can file itr-4 for the ay-19-20


(Querist)
12 June 2019
I HAVE TO FILE THE INCOME TAX RETURN OF A PARTNERSHIP FIRM FOR THE AY-2019-2020, IN WHICH THEIR ARE 2 PARTNERS.
BOTH THE PARTNERS ARE HAVING INVESTMENT IN UNLISTED EQUITY SHARES OF A PVT. LTD COMPANY AND ONE OF THEM IS ALSO AN ACTIVE DIRECTOR.
NOW, MY QUESTION IS, WHETHER I CAN OPT FOR ITR-4 FOR THE FIRM AS THE AMENDMENT IN THE ITR-1 & 4 RESTRICTS INDIVIDUALS ONLY NOT THE PARTNERSHIP FIRM.
KINDLY SUGGEST.


CA R SEETHARAMAN (Expert)


Click to Talk 12 June 2019
File ITR 5 since holding of unlisted shares details to be furnished.


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