ITR 3 vs ITR 4: Which is right for LLP partners?

ITR 3 or ITR 4?

Khushboo

article assistant

20 Points Posted on 17 September 2020

I am a partner in a LLP formed in November 2019.
I have also received professional fees which until last year I used to show under 44ADA in ITR 4.
my total income is less than 50 lakhs
So for FY 2019-20 (AY 2020-21) which itr is applicable to me - ITR 3 or ITR 4?

Replies (2)

Quick Summary

If you're a partner in an LLP, even if you receive professional fees that you previously declared under Section 44ADA using ITR 4, you will likely need to file using ITR 3. This is because partnership in an LLP generally disqualifies you from using ITR 4. However, within ITR 3, you can still opt for the presumptive taxation scheme under Section 44ADA for your professional income.

CA ABHAY GUPTA

Practice

20 Points Posted on 17 September 2020

Since your a partner in a firm not eligible to file ITR 4, kindly file ITR 3 and in there you can select option 44ADA to show your professional income

Sagar Patel

Tax and Business Consultant

20 Points Posted on 17 September 2020

Yes, You are required to file your return in form ITR 3 in that also you can show your professional fees income under 44ADA.

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ITR 3 or ITR 4?

Khushboo

CA ABHAY GUPTA

Sagar Patel

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ITR 3 or ITR 4?

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