Filing ITR-3 AY 2018-19 for partner of a firm

Dear Sir,

Thanks a lot for your valuable comments.

Most Welcome, Dear .... 

Dear Sir,

Regarding capital balance as on 31.03.18 of a partner which is to be shown in ITR 3.

Which balance to be declared while filing returns of a partner (Earning income from partnership firm), as per my view Current account balance & Capital account balance.

Please give your openion on the above said query.

Thanks in advance sir !

my client getting only share of income from LLP , may i use the code 00001

 

Originally posted by : R.Venkadesh
	my client getting only share of income from LLP , may i use the code 00001

Yes ...

Originally posted by : Dhirajlal Rambhia
	1. Yes, unless the firm is under tax audit compliance. 2. Not separately deductible under partner's account. 3. Yes, if the difference is remarkable, query may be raised for its justification.

Sir, 

If the partnership firm is doing tax auditing, then whether partners' ITR can be done till sept 30th?

Yes, for working partners, of firm having tax audit, the ITR filing date u/s. 139(1), is 30.09.2018. unless extended.........

Sir, I have filed ITR3 and filled P&L item 62 "COMPUTATION OF PRESUMPTIVE INCOME FROM PROFESSIONS UNDER SECTION 44ADA." I have not maintained any books of accounts and also this the first time i am having such income, so there is no income in previous year under consultancy.

  I received below email from Income Tax. Your Income Tax return ITR-3 uploaded for ********** and AY 2019-20 has the following defect(s)  

Fill column 64 (ii) ..... For assessee carrying on Profession in 'Schedule P&L'

IF REGULAR BOOKS OF ACCOUNT OF BUSINESS OR PROFESSION ARE NOT MAINTAINED, furnish the following information for previous year 2018-19 in respect of business or profession-

And

Column 6 ...  of 'Schedule BS'

In a case where regular books of account of business or profession are not maintained -(furnish the following information as on 31st day of March, 2019, in respect of business or profession).

Create new xm l   file with these details (u/s. 139(9)) and upload the same in reply to the defective notice.

Dhirajlal Rambhia

Thanks for the advice. i refilled the form and filled as revised return as i did not have any link for notice as it was on email only and no notice on the site. I filled the amount actually i received in bank under column 64(ii) and reflected the same amount in "amount of cash balance" column 6(d) of balance sheet.