In case of Partnership Firm, ACT says Sec40(b) can be allowed against the presumptive income, but there is no provision or column in the ITR4S for the same. How we can claim the deduction? Are we have to use ITR5 for the partnership firms. Please clarify.
5 Replies
VIJAYKUMAR
(CHARTERED ACCOUNTANT)
(203 Points)
Replied 31 December 2011
We have to use ITR 5 for Partnership firms
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 31 December 2011
I Think
In case of Firms ITR5 is to be filled.
RONAK DARJI
(CA FINAL)
(382 Points)
Replied 31 December 2011
Dear Member,
According to me ,If you have to file return for PARTNERSHIP then you have to file ITR-5.
In this form you got coloum for presumptive income ..
Regards,
Ronak Darji
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 31 December 2011
| Originally posted by : RONAK DARJI | ||
 |
Dear Member, According to me ,If you have to file return for PARTNERSHIP then you have to file ITR-5. In this form you got coloum for presumptive income .. Regards, Ronak Darji |
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