Individual pensioner holding partnership in a business

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Ramaswamy Thiyagarajan (Querist)

26 August 2019 My wife is a Retired School Teacher. She holds partnership in a recently started firm doing Software and IT related Service Business. Her pension for the FY 2018-19 is Rs.3.40L. Her profit share in partnership firm is 0.40.She is not liable tax. Just to get a refund of Rs.700/- deducted for Bank Deposits she needs to file Return. I provided all details including the name of the firm, PAN and Profit Share in Return. But while going for verification the system asks to provide at lease one business code in schedule nature or in Point 61,62 or 63 in Schedule P&L A/c. She is not running any Proprietorship Business to declare P&L. Have I to enter code of the business in which she is a partner. For a small refund we could not go to a tax consultant. Please guide.- With thanks, Ramaswamy.T

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 August 2019 Not required to enter code of business if no amount is entered in P and l. However Enter the business code Software development 14001.

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Ramaswamy Thiyagarajan

Ramaswamy Thiyagarajan (Querist)

27 August 2019 Thank you Sir for your reply. I managed to file return before getting your reply. I will come back to you for any more help required. With Regards-Ramaswamy.T

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

27 August 2019 Welcome.......................................

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