How to show salary from partnership as income from business?
This query is : Resolved
23 February 2018
I have received a notice for defective return. I am a partner in a partnership firm and my CA showed the renumeration as "income from business". I have another proprietership business too for which income was taken under section 44ad.
The notice says the "gross receipts" and balance section have not been filled for income from business.
I want to know how to show that? I mean, if show renumeration from partnership as salary, then it is fine. But it has to be shown as business income. So how do we enter the details like "gross receipts", and profit and loss details? Do I mention the renumeration as "gross receipts" and expenses as "zero"?
Please help.
The notice says the "gross receipts" and balance section have not been filled for income from business.
I want to know how to show that? I mean, if show renumeration from partnership as salary, then it is fine. But it has to be shown as business income. So how do we enter the details like "gross receipts", and profit and loss details? Do I mention the renumeration as "gross receipts" and expenses as "zero"?
Please help.
Nikhil Kaushik
(Expert)
24 February 2018
it is to be shown as business receipts. Ask your CA to revise the return.
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