PARTNERSHIP FIRM TURN OVER LESS THAN 20 LAKHS

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Dear All,

 We Are running partnership firm having less than 20 lakhs turn over for previous year.  TDS Deducted 33200/- for previous year.

But If file ITR 4 opted 44ad we are loose TDS refund. we cant book partner remuneration .

can we file ITR -3 in this case . 

 

Please suggest.

 

Replies (4)

As per my opinion, You cant File ITR -3 .Because its applicable only to Individual & HUF.

ITR 4 would be applicable if you want to file return u/s 44AD

But if you dont want to opt 44AD, You can File ITR 5,but you have to fill balance sheet  & P/L statement details.

This is my opinion.

sir is it tax audit or normal filling

You can use ITR-5  for normal filing also.

You said your Turnover is less than 20 lakhs , Audit is not required.

In your case of partnership firm you will have to file itr5. furnish it along with PL and Bs


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