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Itr of firm in case of presumptive income

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11 August 2013 Dear Expert,

I want to know which ITR to file in case of presumptive income declare by firm.
If ITR - 5 is to be filed then where to show the interest paid to partners.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
11 August 2013 The payment is an expense so include the same under the Expenses. Deduct Expenss from Gross Profit , you will get Net Profit.
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