Itr personal in case of director in partner ship firm

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 November 2011 Dear,
I want to know, if any one is director in Partner ship firm with 50% of partner ship. the profit for the F/Y 09-10 was Rs. 5.00 Crore & the profit transfered to there Capital Account but not paid til date.
Now in this case if Director want to file there personal return. can director take personal return with the incocme of 2.50 Crore or what is the criteria.

Regards
Nitin

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 November 2011 First of all confirm whether the firm has filed its return or not.

Take copy of capital account of the concerned partner, and ascertain the remuneration, interest and share in profit of the firm to the partner. On the basis of these figures return of the partner can be filed.

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