Dear members,
I am a partner in a firm, also doing freelance software consulting work. I dont have any income from partnership firm except some reimbursements and drawings. I have some income from my freelancing work.
My partnership firm is filing its return ITR5. Can I file my personal return under Presumptive scheme by declaring 8% profit?
Since you are a partner in a firm ITR 3 is mandatory.So you cannot opt for ITR 4 ie on presumptive basis.
Thank you for the advice.
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
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Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
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Hema Yashwanth & Associates
Chennai
B.Com
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Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
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CCI
Pro
CAclubindia
