Sec. 45(4) and 9B of the Income Tax 1961

Assessee is partnership firm having 5 partners ,engaged in the business of construction. The firm has undertaken the construction of housing project. In the partnership deed, it is agreed by and between the partners that all partners will contribute the capital equally and their profit sharing is equal.  It  is also agreed  that in case capital contribution is not made equally, then the profit sharing which is decided as equal, will be change as per the capital contribution by executing the  fresh partnership deed. Accordingly partners have decided to execute the partnership deed and change the profit sharing ratio as…

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  Regarding Sec 44AA(2) of Income Tax Act 1961.

Dear Sir, While filing ITR-3 for the A.Y. 2021-22. Declared the income under the head of "Income from the non-Specified profession without books of accounts" the filing software warning to fill the Balance Sheet and Profit & loss account for above-declared income. kindly help me with this issue. Thanking you, Mohamed Ali Tax Practitioner

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