Itr form

ITR 131 views 4 replies

Ranjan Roy

5 Points Joined October 2015

A practicing chartered Accountant have income from Firm, income from house property and also consultancy income under individual capacity.

case1 : Houseproperty income 270,000/-, remuneration & profit from firm 125,000/- and consultancy income under individual capacity 100,000/- (TDS deducted U/s 194J)

case2 : Houseproperty income 70,000/-, remuneration & profit from firm 125,000/- and consultancy income under individual capacity 400,000/- (TDS deducted U/s 194J)

Which ITR form should he select to file return?

Replies (4)

RAJA P M

"Do the Right Thing...!!!"

128147 Points Joined January 2015

Both case you can file ITR 3 (AY 17-18)...

Ranjan Roy

5 Points Joined October 2015

should he show consultancy income under individual capacity as Income from other sources or Income from Business (proprietorship busines) ?

RAJA P M

"Do the Right Thing...!!!"

128147 Points Joined January 2015

Consultancy incomes under the head of PGBP (Professional Income)

Ranjan Roy

5 Points Joined October 2015

Thank you sir.

Now in ITR-3, firm income to be shown seperately after giving firm details. Any other professional income to be shown as proprietorship business income.

Can a practicing Chartered Accountant show both income - Income from partnership firm as well as Income from Proprietorship business income (consultancy income only)

In that case should he require to file B/S and P/L also ?