Partnership

This query is : Resolved

RONI (Querist)
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31 October 2019 Sir, My friend is getting share of profit from firm in the FY 2018-2019. Whether he can adopt sec 44AD.

He also have business income , for which he file itr under presumptive scheme.

RAJA P M

RAJA P M (Expert)
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31 October 2019 If Assessee is a partner in a Firm then he will be file ITR 3... If his business (own) is eligible u/s 44ad then he can file with ITR 3.

CA Shiv Kumar Sharma

CA Shiv Kumar Sharma (Expert)
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01 November 2019 Both are a different businesses. The assessee has to file ITR-3 and Section 44AD can be adopted

RAJA P M

RAJA P M (Expert)
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01 November 2019 If first one not verified by Assessee then 2nd return is not a revised return. Bcoz, 1st return not revised then 2nd is a original return...