Where to show partners remuneration in itr 3 ay 2018-19.

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PADMINI (Querist)
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30 August 2018 As you are aware that from FY 2017-18, New return forms are launched by the IT Department. Previously we used to file ITR-2 for Partners having no other business income except income from Firm. However from this year ITR-3 is applicable for Partners. While filing ITR-3 we have to input four figure balance sheet and profit and loss account otherwise department issues notice for defective return.

My query is how shall return of partners having no balance sheet maintained be filed ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 August 2018 Income earned by the assessee by way of salary, commission, bonus, interest, etc. from other firms in the capacity of a partner, which has not been included in the profit and loss account of the proprietary business needs to be disclosed in item No. A24 in Schedule BP.

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PADMINI

PADMINI (Querist)
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06 September 2018 THANKU VERY MUCH SIR

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 September 2018 Welcome......................

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