E-filling of income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 January 2014 dear sir

i am a partner of a partnership firm. i received interest on capital and remunaration of the firm also i have income from other business. my quiry is which form I used for e-filling and where i show interest and remunaration in ITR????

Ajay Goswami

Ajay Goswami (Expert)
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17 January 2014 Interest on Capital & Remuneration from Partnership firm as a partner both are business income.ITR 3 is correct form

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 January 2014 have to disagree with Ajay here..

ITR 3 is applicable only if there is no other business income except for remuneration/interest from the partnership firms.

In this case, ITR 4 shall be applicable.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 January 2014 Interest and remuneration from partnership firm may be shown in

Schedule BP A 23 of ITR-4.

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