Please guide me which ITR form for Partnership firm within 20 lak TO

[Guest]

Dear Sir

After reading the instruction I had chosen ITR4 (Sugam) downloaded excel utility from income tax website itself for filing of return of AY 2017-18 FY 2016-17 as our gross turn over is within 20 lk and our profit is above 8% before Partnership remuneration & interest. As there was provision to enter the partnership remuneration in E6 it shall not be reduced in profit and shows tax payable on full profit amount. If I enter profit after partnership remuneration in E2 b (8% of E1) it do not accept. I am wrong in choosing the required form. If so the next form ITR5 is more complicated also ask for different audit report. In fact last year for Ay 2016-17 FY 2015-16 I had filled in ITR4 which had also accepted. Surprisingly Partnership remuneration (E6) shall be deducted only from the Persumptive income of 44AE only not of 44AD (As per the explanation given in the form But instruction ITR 4 sugam is also for Partnership income as per special provision of Sec 44AD and 44AE can any body guide me.

AI Summary

Choosing the Right ITR Form for Partnership Firms with Turnover Under 20 Lakhs and Profit Over 8% A user inquired about the appropriate ITR form for a partnership firm with a gross turnover within 20 lakhs and a profit margin above 8% before partnership remuneration and interest. They initially chose ITR4 (Sugam) for AY 2017-18 but encountered issues with entering partnership remuneration, which the form does not deduct from the profit. The user considered ITR5 but found it complicated due to additional audit requirements. They noted that ITR4 was accepted in the previous year. A respondent, DR. MARIAPPAN GOVINDARAJAN, expressed hope that the user had filed the return successfully.