Income from partnership firm, but no business or profession - which itr to file

I have profit income from partnership firm. But I dont have a proprietorship business or profession. 

This year(A.Y 2018-19) they have removed Schedule IF(Information regarding partnership firms) in ITR2. Also in schedule AL(assets and liabilities), there is no section to disclose the investment amount in a partnership firm. Due to this most popular websites/articles suggest that partners should file ITR3(which makes sense). 

But in ITR3, the NATURE OF BUSINESS section requires atleast one row to be filled. But I dont have a business or profession. I have only profit income from a partnership firm. Hence I am unable to file ITR3 as well.

So I am unable to use both ITR2 and ITR3. Please advise how to proceed. Thanks in advance for your help.

Replies (10)

ITR 3

You can fill  code of the business of partnership firm in which you are partner. 

My Dear Mr Dhirajlal Rambhia Sir.,

Excellent Reply Sir...

Exact reply to the Query and The reply including Next question... Great thinking...

Hi Dhirajlal Sir,

Thanks for your great reply. But that next column after "Code" requires me to fill the "Trade name of proprietorship". But mine is a partnership firm. In that column, should I fill the Trade Name of the partnership firm or should I leave it blank? Please advise.

With great regards,

Karthick

No. That is not mandatory........ This code filling is just requirement due to utility problem ......

Thank you Sir. That clarifies everything. Now I am able to file returns.

Most Welcome, Dear .......

God Bless .......

Even though Dhirajlal Sir gave an excellent reply to work around the issue with the Offline Utility, I would like to inform that IT efiling department has fixed the issue with the efiling utility(with a new update).

They have added a new business code "00001 - Share of income from firm only" in the latest version of the ITR3 offline utility. I would like to thank the IT efiling department for their prompt action. Kudos to them for showing that even some govt departments work very professionally.

 

Yes, the defect has been rectified on 10th July, 2018

Now new code '00001' can be applied.

really thank you sir

 

You are welcome.             

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