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

patit paban halder (accountant) (21 Points)

21 May 2019  


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.   


 2 Replies

RAJA P M ("Do the Right Thing...!!!")   (115470 Points)
Replied 21 May 2019

ITR 3 is applicable to a Partner who is in partner of a Partnership Firm.

Neemisha Khatri (Accounts) (283 Points)
Replied 21 May 2019

Use code '00001' 'Share of Income from Firm Only' .... in ITR3.

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