Interest on Capital from Partnership firm
This query is : Resolved
Mahender Jain
(Querist)
15 September 2009
i m filing return of person who has his own propertiorship and also a partner in Partnership firm
he received interest on his capital from Partnership firm
So in which head this interest will be shown
1 Other source Income
or
2 Business & professional income
and if it should be shown in Business & professional income,
then in which column of IT return form
he received interest on his capital from Partnership firm
So in which head this interest will be shown
1 Other source Income
or
2 Business & professional income
and if it should be shown in Business & professional income,
then in which column of IT return form
Aditya Maheshwari
(Expert)
15 September 2009
ITR - 4 to be filed
Interest & remuneration received from firm taxable under Business & profession
Interest & remuneration received from firm taxable under Business & profession
15 September 2009
Interest, salary, bonus, commission or remmuneration due to or received by a partner is taxable under business income (sec 28).
ITR-4 has to be filed.
ITR-4 has to be filed.
Ratan Sharma
(Expert)
15 September 2009
ITR 4
CA CHINTAN AJMERA
(Expert)
15 September 2009
ITR 4 , Under Business & Profession
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