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Returns for partnership firm
If i file a return of Partnership firm under Preemptive Income basis Which ITR i have to fill. If it is ITR5, should i fill Balance sheet and Profit and Loss account?
Replies (4)
Dear Raghvendraji,
If you are filling return on presumptive basis than that case you dont have to put whole balancesheet and profit and loss account.However, you have to put certain information like cash balances, Debtors Balance, Etc.
Sir,
Thanks for the quick reply.
Which INCOME TAX FORM i have to file. ITR 4S OR ITR 5?
Dear Raghvendra Ji,
ITR-4S(presumtive business) is applicable for individual and HUF not for partnership firm, hence you have to use ITR-5 for partnership firm return.
Thank you...
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