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Retired Partner

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A was a partner of ABC and his profit sharing ratio was 25%. He retires on 15th June' 2018.
Capital Balance of A as on 15th June was ₹ 2,40,000/- which was transferred to A's Loan A/c

A's Loan balance as on 31st March'2019 was ₹ 50,000/-

Now my question is what to show in ITR 3 in the following in Partnership Details
1. Profit Sharing Ratio
2. Capital Balance
Replies (2)
Profit sharing ratio shall be as per deed ...
capital balance is as on the balance sheet date ... since he was not a partner on 31.03.2019 - the capital balance shall be NIL.
Originally posted by : Amit Jain
A was a partner of ABC and his profit sharing ratio was 25%. He retires on 15th June' 2018.Capital Balance of A as on 15th June was ₹ 2,40,000/- which was transferred to A's Loan A/cA's Loan balance as on 31st March'2019 was ₹ 50,000/-Now my question is what to show in ITR 3 in the following in Partnership Details1. Profit Sharing Ratio2. Capital Balance

Details give as on 31-03-2029 Outstanding

 


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