Please help - filling form for returns

Molly (Others) (115 Points)

16 June 2014  

HI Everyone,

I have downloaded form ITR - 3 as I am a partner in a firm. The firm has suffered a loss this year and I am filling the form the first time. Just wanted to know the foll:

In Schedule IF and Schedule EI under Amount of share in profit should I enter the minus figure of loss acc to my share in the firm? ex -30000 and will this affect my total tax to be paid?

Thank you