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Which ITR form is applicable

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 September 2010 Dear All,

One of my frient is a partner in a firm and do not getting any saleries or amount from the firm except interest on Capital. Current year interest is approx 2 Lac. He is doing agriculture also the agriculture land is on on his father's name. I want to know which ITR form used for his return. Income from agriculture is approx 80 thousands. How much is exempted from the income tax.

regards,


JS
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
20 September 2010 ITR-3 is the appropriate form.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 September 2010 Warrier sir,
thanks for replying.
sir please explain the exempted income from agriculture.
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