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Parnership acvount

Vijay Baraiya (Advocate) (271 Points)

01 September 2020

partnership ke liye konsa itr bharna hai ? turnover 1 cr se kam hai aur accounting bhi nahi hai

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6 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 01 September 2020

You can show your business income as per Section. 44AD under Presumptive Taxation @ 8% or 6% as the case may be if you're doing business which are eligible to adopt presumptive Scheme u/s 44AD.
In this case you can file your return in Form ITR 4.

what is your nature of business /business activity.?

Vijay Baraiya (Advocate) (271 Points)
Replied 01 September 2020

Manpower service in company, but 44AD under 8 % profit rakhu to mujhe 30 % tax Dena padega

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 01 September 2020

Yes, you have to Pay 30% tax + cess ect..but it's on that 8 % Profit under 44AD.

otherwise, you can file under normal scheme in ITR 5 "with books of account"..