04 September 2014
Assesee has received remunertion from partnership firm and also have presumptive income us 44 ad. Which itr form should be filled for a.y.2014 15
Remuneration received from a partnership firm (i.e., share of profits or remuneration as partner)
Presumptive income under section 44AD (business income declared on presumptive basis)
Which ITR form to file? ITR-4 (Sugam) is the appropriate form for individuals and HUFs having income from business or profession under presumptive scheme u/s 44AD and also income from partnership firm (remuneration or profit share).
Important notes: Income from partnership firm is shown under "Income from Business & Profession" or "Income from Partnership Firm" as applicable in ITR-4.
If the assessee has any other sources of income like salary, house property, capital gains, then also ITR-4 is suitable provided total income is within limits prescribed.
If the assessee has complex income like capital gains or more than one partnership firm, then ITR-3 may be required. But for most cases with 44AD presumptive income + partner remuneration, ITR-4 works.
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