29 March 2011
Respected Experts If a persob is a partner of a firm & also doing separate business then is for him ITR 3 sufficient or ITR 4 to be applied if it is ITR 4 then is such business profit also include share of firms remuneration, interest on capital & its individual business profit unitedly Thanks Debashis Mandal
29 March 2011
If the person is carrying proprietorship business also then ITR 4 is necessary.
Business profit includes profit from proprietorship business, salary from partnership firm and interest received from partnership firm. Share of profit from partnership is exempt from tax.
CAclubindia
