HI Everyone,
I have downloaded form ITR - 3 as I am a partner in a firm. The firm has suffered a loss this year and I am filling the form the first time. Just wanted to know the foll:
In Schedule IF and Schedule EI under Amount of share in profit should I enter the minus figure of loss acc to my share in the firm? ex -30000 and will this affect my total tax to be paid?
Thank you
Sorry but i am not too clear - it means that I have to not enter it in the ITR - 3 form right?
Loss must be carried forward to set off by partnership firm.
Further it can't be distributed to partners of the firm.
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