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ITR applicability
What ITR will apply for assese earning from partnership firm? ITR-2 or ITR-3? Because, if I get income from firm, it comes under the head PGBP and if PGBP income is earned, ITR-3 is opted. But at the same time, ITR-2 applicability is stating that, it will be apply even when assese is earning income from partnership firm.
Replies (3)
For AY 2018-19......... only ITR3
ITR 2 option was available in earlier year....
Dear Sir,
1. ITR-3 can be filed by an Individual or HUF deriving income from proprietary business or profession.
2. ITR-3 can also be filed by an Individual or HUF who is a partner in a firm deriving his income by way of any interest, salary, bonus, commission or remuneration from firm.
For AY 2018-19, Person having Income from Partnership firm will have to file ITR-3 only. ITR-2 is for persons not having income from Business/Profession.
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