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ITR of a partner- AY 2018-19
Till AY 2017-18, the ITR of a partner did not ask for Profit and Loss account and Balance sheet. Since for AY 2018-19, ITR- 3 has been prescribed for a partner, as soon as we fill details of remuneration from firm, the ITR shows requirement of P&L and B/S. My question is that is it compulsory to upload these statements and if yes then whose statements shall be uploaded, statements of firm or Partner's personal statements?
Replies (8)
if you are filing partner's ITR, then you have to fill partner's details only
but is it mandatory to upload the P&L and B/S of a partner ?
Yes... But, You can choose "No Books of Accounts" case if the Don't have any other proprietory business. Also use business code like Partnership Firm's code.
IF ENTER ZERO VALUE TO EACH COLUMN XML FILE IS GENERATED
Dear Sagar,
XML file has generated without uploading balance sheet and P&L but when we submit return, a warning display that a notice may be served for the same.
YES I GOT THE SAME RECENT
WHAT IS THE SOLUTION?
you can use businee code 00001- share of income from firm only if you have income from partnership firm. as soon as you do so you shall not be asked for p&l and balance sheet
for proprietorship business in addition you can use the respective code in the next row.
Thanks Jyoti ji
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