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Itr3 balance sheet data

Molly (Others) (115 Points)

22 June 2018

Hi I am a partner of a firm trying to file ITR3. I have added in all data however unable to file as the system asks for nature of business and profit and loss and balance sheet details. Should I fill in what the company has filed? I do not have any proprietorship.

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13 Replies

Molly (Others) (115 Points)
Replied 22 June 2018

I know the Nature of Business I am a partner of but only need to know what details do I put in the Balance Sheet. Should I take the data filed by the company?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177756 Points)
Replied 22 June 2018

When you have no proprietorship business, nature of business code is not required to be mentioned. Fill only Schedule IF.

Tick no books of accounts u/s. 44AA & no audit requirement u/s. 44AB......

4 Like

Molly (Others) (115 Points)
Replied 22 June 2018

Thank you Sir. However the utility still gives an error for the nature of business. Should I select the business type in this case or ignore the error?

Molly (Others) (115 Points)
Replied 22 June 2018

Can anyone help me out?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177756 Points)
Replied 23 June 2018

If that is the only requirement, fill nature of business of your firm and its name........ but otherwise contact helpline..........

1 Like

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Molly (Others) (115 Points)
Replied 26 June 2018

Thank you Sir, I selected the business nature as TRP, helpline told me the same ..sorry just one last question. I am getting the error "Please enter valid characters" for Schedule EI (Exempt Income). I have currently entered "Share of profit in partnership u/s 10(2A)" however even if I enter "share of profit" I get the same "Please enter valid characters" error.

I tried contacting helpline ie ASK, efiling as well as TRP but each time they request me to contact the other ie TRP said to contact efiling, efiling said to contact ASK, ASK again said to contact TRP etc

For the excel utility the X M L file is generated however when I import the same in the java utility it throws the error. So should i proceed in filing with the XML generated through excel or will this cause some problem of defective return or anything else?

Thank you in advance.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177756 Points)
Replied 26 June 2018

1. Check with letters as ....... Shares of profit from partnership firm......... No special characters like ( ..... ) .... / etc.

2. If .X M L file is generated after validation of each page, even excel utility filing will be defect-less.

Molly (Others) (115 Points)
Replied 26 June 2018

Thank you Sir. Can I fill it as Profit Share as that does not give any error?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177756 Points)
Replied 26 June 2018

No problem......... but add ...... from partnership......

FAHEEM AKRAM (293 Points)
Replied 16 July 2018

If previous return was ITR3 So this year can be filed u/s 44AD???

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Mohd Aijaz (Sr. Accountant) (47 Points)
Replied 26 August 2018

If only partner in a firm , then select nature of Businee "00001 Share of Income from firm only"

Mohd Aijaz (Sr. Accountant) (47 Points)
Replied 26 August 2018

If no business only partner in firm please select "00001 share of income in firm only"

Ramachandran R (117 Points)
Replied 28 August 2018

Originally posted by : Dhirajlal Rambhia
	When you have no proprietorship business, nature of business code is not required to be mentioned. Fill only Schedule IF. Tick no books of accounts u/s. 44AA & no audit requirement u/s. 44AB......