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ITR 3 for partners

Yogesh Gupta (143 Points)

20 December 2020

is it compulsory to prepare balance sheet and profit and loss account while filing itr 3 for partners

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5 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 20 December 2020

No......

ayusmita (Tax consultant) (5885 Points)
Replied 20 December 2020

Yes if audited
if firm is audited then it's better to show balance sheet of partners
non audit case in my opinion balance sheet is good to keep a fair record
but it's depends upon person if they want to show the financial statement others wise not

Yogesh Gupta (143 Points)
Replied 21 December 2020

Thanks a lot

sabyasachi mukherjee (26037 Points)
Replied 21 December 2020

First you have got to know what is itr 3.
Who can file itr 3?
partners in partnership firm..

Krishna Chaudhary (Accountant) (4531 Points)
Replied 09 January 2021

No ,....

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