Itr form for partnership profit + prop business u/s 44ad
This query is : Resolved
16 August 2018
Respected Sir
I want to know if an individual being a partner in a firm also carries on a proprietorship business and wants to assess his income from proprietorship business under section 44AD, which ITR form for the AY 2018-19 will be applicable to him. My doubts are: 1. Whether the share of profit from the firm is required to be disclosed in the ITR. If yes then in ITR 4 only details about the firm in which he is a partner is required. is it sufficient disclosure about the firm. 2. If he is also in receipt of salay from the firm within the limits of section 40(b), then is there any disclosure required of such income while filing ITR.
Kindly resond with some explanation
Thanking You
I want to know if an individual being a partner in a firm also carries on a proprietorship business and wants to assess his income from proprietorship business under section 44AD, which ITR form for the AY 2018-19 will be applicable to him. My doubts are: 1. Whether the share of profit from the firm is required to be disclosed in the ITR. If yes then in ITR 4 only details about the firm in which he is a partner is required. is it sufficient disclosure about the firm. 2. If he is also in receipt of salay from the firm within the limits of section 40(b), then is there any disclosure required of such income while filing ITR.
Kindly resond with some explanation
Thanking You
16 August 2018
you need to file ITR-3
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Last year TDS Claim
- LTCG on switch of units
- Salary and pension received from Asian Development Bank
- Short Term Capital gain on shares bought and sold after 2018 onwards
- One Post a Week Done Right Beats Seven Done Wrong
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
