Form ITR-3 includes a Schedule IF wherein partners are required to furnish the details of his partnership firm. Following information about the partnership firm is furnished in this schedule:
a) Name of the Firm
b) PAN of the firm
c) Whether the firm is liable for tax audit?
d) Whether the firm is liable for transfer pricing audit?
e) Profit sharing ratio in firm
f) Share of profit from firm
g) Capital balance on 31st March of the previous year in the firm
As ITR-3 can be furnished by an Individual and HUF only, these details were not sought from other persons who were the partners in a partnership firm.
Accordingly, this schedule has also been inserted in ITR-5.
This change will impact [ITR 5]
Refer: www.taxmann.com
a) Name of the Firm
b) PAN of the firm
c) Whether the firm is liable for tax audit?
d) Whether the firm is liable for transfer pricing audit?
e) Profit sharing ratio in firm
f) Share of profit from firm
g) Capital balance on 31st March of the previous year in the firm
As ITR-3 can be furnished by an Individual and HUF only, these details were not sought from other persons who were the partners in a partnership firm.
Accordingly, this schedule has also been inserted in ITR-5.
This change will impact [ITR 5]
Refer: www.taxmann.com
No comments:
Post a Comment