Int on loan & int on fixed deposit can setoff
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2011
A person having income from partnership firm like int. on capital;remuneration from firm & profit from firm & Other than this having income of interst from Fixed deposit & exp. Interst on Personal Loan.
1.Can he file ITR4 or ITR3.
2.Can Int. can be setoff.
1.Can he file ITR4 or ITR3.
2.Can Int. can be setoff.
13 December 2011
Interest paid by a partner on the personal loan is not allowable as a deduction.
Further, remuneration received by a partner from a partnership firm is taxable under the head Income from Business or Profession.
Accordingly, the assessee will have to file ITR 4.
Further, remuneration received by a partner from a partnership firm is taxable under the head Income from Business or Profession.
Accordingly, the assessee will have to file ITR 4.
13 December 2011
It is correct that remuneration received from the partnership firm is taxable under PGBP, but this column is available in ITR 3,
plz check BP schedule of ITR 3.
Hence ITR 3 will be applicable.
Regards.
plz check BP schedule of ITR 3.
Hence ITR 3 will be applicable.
Regards.
13 December 2011
It is correct that remuneration received from the partnership firm is taxable under PGBP, but this column is available in ITR 3,
plz check BP schedule of ITR 3.
Hence ITR 3 will be applicable.
Regards.
plz check BP schedule of ITR 3.
Hence ITR 3 will be applicable.
Regards.
14 December 2011
ITR 3 can be filled by partner of a partnership firm.
i am agree with anurag
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
i am agree with anurag
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
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