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ITR applicability

Mahadev9966 (student) (22 Points)

28 September 2018

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.

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3 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 28 September 2018

For AY 2018-19......... only ITR3

ITR 2 option was available in earlier year....

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CA Mohammed Khalandar (Practicing Chartered Accountant) (203 Points)
Replied 28 September 2018

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.

CA Vibhor Kalamkar (Partner at Bhojwani Kalamkar & Co.) (186 Points)
Replied 28 September 2018

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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