Latest Query & Reply

Dear Sir,

I AM PARTNER IN A FIRM I WANT TO FILE IT R FOR ASSTT YEAR 2018-2019.

IF I  SELECT TO  FILE ITR 3 FOR AY 2018-19 THE RETURN UTILITY SAID ENTER BUSINESS CODE WHICH CODE IS REFFERED ?I AM  PARTNER IN A FIRM 

I HAVE INCOME ONLY REMUNERATION AND SALARY FORM FIRM I AM NOT LIABLE TO MAINTAIN BOOKS OF ACCOUNTS BALANCESHEET WHICH ITR IS USED?

INFORM ME

Reply

Dear Sir,

The said code reflects nature of business of the firm. the assessee (partner of firm) has to enter the code according to nature of business of firm. For example: code 16001 is for legal professional etc. ITR-3 is to be used by an individual or a Hindu Undivided Family who is having income under the head profits or gains of business or profession and who is not eligible to file Sugam (ITR-4). Hence, ITR-3 will be applicable in your case.