Itr3 balance sheet data

ITR 1257 views 13 replies

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.

Replies (13)

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?

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......

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?

Can anyone help me out?

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

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.

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.

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

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

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

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

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

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......

Sir I'm partner of a partnership firm. Didnt prepare balance sheet and PL for firm account. Planning to do next month only. 

Have taken money from firm account for business related travel, stay and food. No renumeration or interest anything taken. 

How to file as partner in ITR 3?

Without filing for firm it s possible to file IT for partners?

Pls guide how to file for company also. We are to take make any profit as putting all money as invest for expanding. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register