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Related to partners remuneration

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karthik

audit staff

55 Points Posted on 08 December 2014

dears,

i have doubt in following, pls clarify it.

mr John is a partner of one Partnership firm. he is getting partner remuneration Rs.300000/- in that firm and he is having own business also. in this case which ITR form applicable for mr John and where to be fill that remuneration in ITR form.

Regards,

Karthik.K

Replies (6)

Ankit

Student

639 Points Posted on 08 December 2014

I think ITR 4..

Audit Executive

taxation

112 Points Posted on 08 December 2014

its surely ITR 4

D K BAYYAREDDY

CHARTERED ACCOUNTANT

33 Points Posted on 09 December 2014

ITR - 4 is correct return of Income.

CA Vap Patel

Practice

898 Points Posted on 09 December 2014

Yup it’s ITR 4,

And Partner remuneration is shown under BP schedule point No 23- "Any Other Income (Including income from salary, commission, bonus and interest from firm in which an individual/HUF/prop. Concern is a Partner) not included in profit and loss account"