An assessee being a partner in a Firm have drawn salary (not share) from the firm and at the same time is also running a proprietorship business in which he is the proprietor. Which ITR Form he should file his Return of Income ?
Thanks in Advance for your expert replies.
| Originally posted by : Somsuvra Mukherjee | ||
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An assessee being a partner in a Firm have drawn salary (not share) from the firm and at the same time is also running a proprietorship business in which he is the proprietor. Which ITR Form he should file his Return of Income ? Thanks in Advance for your expert replies. |
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-> ITR-4 shall be filed.
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-> Income earned by the assessee by way of salary, commission, bonus, interest, etc. from partnership firm, which has not been included in the P&L A/c of the proprietary business, needs to be disclosed in item No. A23 in Schedule BP.
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-> Fill partnership details in Schedule IF.
Dear Som,
It has to be ITR-4 as ITR-3 is for the individuals/HUFS being partners in a firm and not carrying any other properitorship business, and other detaills has already been conveyed through Deepak's Reply.
Thank you mates for all of your valuable replies especially of Deepak Gupta and Thanks a lot to all other for confirming the same...
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