SURANA (PROPRIETOR) (515 Points)
19 November 2021Assessee has no personal Business income... except for the Remuneration and Share of Profit from Partnership Firm in its ITR.
what will be the rules for them - Form 10IE - Old Regime and New Regime... can they decide every year just like non Business Income assessee?
SURANA
(PROPRIETOR)
(515 Points)
Replied 19 November 2021
Just saw this similar question elsewhere...
"Assessee being a partner in partnership firm has income from partnership firm only. Hence, ITR-3 is required to be filed. Now assessee wants to opt for New Tax Regime. Whether 10-IE is required to be filed? Under Income Tax Return the nature of business code is 00001- Share of Income from firm only. However, in Form 10-IE this code is not available? Whether Form-10 IE is applicable to this assessee is or not?"
adding to this query...
and will it change based on Working partner or non working partners?
CAclubindia
