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Itr for professional and llp partner


Anuj Gupta (Freelancer)     16 May 2019

Anuj Gupta
Freelancer 
 29 points

| My Other Post

I am currently working as a technical consultant on contract since August 2018. Also I am a managing partner in an LLP under which there is no income in last FY. I wish to file my income tax for FY 2018-19 under presumptive tax regime but not sure if I must fill ITR 3 or ITR 4? I also jointly own (with my wife) 2 houses (1 in another city and 2nd in same city where I reside but still under construction). My total income from consultancy was less than 10 lac for FY 2019-20. Please guide about the correct ITR.

Thanks in advance.

Regards, Anuj.

avater

Antrika Lokhande (student)     16 May 2019

Antrika Lokhande
student 
 41 likes  295 points

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Select ITR 3, suitable for PGBP income along with partnership.

1 Like
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RAJA P M ("Do the Right Thing...!!!")     16 May 2019

RAJA P M
"Do the Right Thing...!!!" 
 8291 likes  113451 points

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ITR 3 is applicable to a partner.


*ITR 4 not applicable...

1 Like

Anuj Gupta (Freelancer)     17 May 2019

Anuj Gupta
Freelancer 
 29 points

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Thanks a lot Ms. Antrika and Mr. Raja for your replies and to clarify the required ITR. Will the same ITR3 be applicable for my wife, who is a salaried person in an organization and is partner in my LLP (non-earning during last FY)? Or will it be only ITR3 OR (ITR1 + ITR3) for her? Thanks in advance. Anuj.

avater

RAJA P M ("Do the Right Thing...!!!")     17 May 2019

RAJA P M
"Do the Right Thing...!!!" 
 8291 likes  113451 points

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Dear.,
Just a Simple logic...

If a Taxpayer/Assesee is a partner then ITR 3 only applicable...

Anuj Gupta (Freelancer)     17 May 2019

Anuj Gupta
Freelancer 
 29 points

View Profile | My Other Post

Thanks.. It certainly helps! best regards.

avater

CA Shikha Sharma (Ceo)     17 May 2019

CA Shikha Sharma
Ceo 
 579 likes  3834 points

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being a partner it's your profession file return accordingly


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