My father invested 10 lacs. Me and my sister started a LLP.
where we show this 10 lacs in itr 5 , can we show this under partner funds??
in ITR 3 can I need to show balance sheet,P&L same as shown in firm ITR 5 ??
As your father is not the partner in LLP then this cannot be the partner fund. However, this can be treated as gift to you from your father and then this can be treated as capital fund. In ITR 5 this can be shown as capital contribution. ITR 3 is not applicable in case of LLP.
ITR 5 is for LLP balance sheet, p & l where as ITR 3 is for your personal individual balance sheet. So, balance sheet in both the forms can’t be the same.
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