If one is a partner in LLP and that LLP has filed a loss return (partners have equal sharing) and that partner has personal professional receipts as well. Can you guide me how he will show his income in ITR 3?
For example:
ABC LLP filed their return (having loss in P&L) for AY 20-21 (First year) and distributed loss with 2 partners (having equal shares). LLP doesn't give any remuneration or interest to its partners (Since it was in loss and also this was their firm year of commencement)
Partner A is earning 650000/- from IT enabled services and claims 75% profit (under presumptive scheme)
So how will partner A show both the things in ITR3 (for AY 20-21) and what are the sections which has to be taken care of?
Can anyone please guide?
CAclubindia
