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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2013
Dear Sir,
A person whose particulars as follows-
1. Salary from partnership firm - 240000/-
2. Interest on capital invested - 18000/-
3. Share in Profit of firm after deductinig salary and interest - 25000/-
Now please advise me,which itr form should be use in above case. And point 3rd income is taxable in the hands of partner or not.
Thanks and Regards.
A person whose particulars as follows-
1. Salary from partnership firm - 240000/-
2. Interest on capital invested - 18000/-
3. Share in Profit of firm after deductinig salary and interest - 25000/-
Now please advise me,which itr form should be use in above case. And point 3rd income is taxable in the hands of partner or not.
Thanks and Regards.
CA UMESH DULAL
(Expert)
20 June 2013
ITR-3
Item no 3 is expempted as it is already taxed in the hand of partnership firm
Item no 3 is expempted as it is already taxed in the hand of partnership firm
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