Can partner file under presumptive income?

ITR 130 views 2 replies

Dear members,

I am a partner in a firm, also doing freelance software consulting work. I dont have any income from partnership firm except some reimbursements and drawings. I have some income from my freelancing work.

My partnership firm is filing its return ITR5. Can I file my personal return under Presumptive scheme by declaring 8% profit?

Replies (2)

Since you are a partner in a firm ITR 3 is mandatory.So you cannot opt for ITR 4 ie on presumptive basis.

Thank you for the advice.


CCI Pro

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