ITR form for Partner of a firm
Mukesh babu (No) (105 Points)
20 November 2021
Which ITR to be filed by the partner of a partnership firm? He doesn't have business Income. Kindly advise
3 Replies
Mukesh babu
(No)
(105 Points)
Replied 20 November 2021
In that form, where we have to declare the share of profit in partnership firm?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178177 Points)
Replied 20 November 2021
Schedule‐IF‐ Information regarding partnership firms in which you are partner
This Schedule has to be filled for each firm in which you are partner.
In column 2 of the Schedule, furnish the name of the firm and in column 3 furnish the PAN No. of the firm in which you are a partner.
In column 6 and 7, please mention the percentage share and amount of share in the profit of the firm as computed in accordance with the provisions of the Income‐tax Act, which is exempt from tax in hands of the partner.
In column 8, please furnish the amount of capital balance (including the capital on
which you are entitled for an interest) in the firm in which you are partner.
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