Advance from Sundry Debtor woh to Show


This query is : Resolved 

Quick Summary
If you have an advance from a sundry debtor appearing on the credit side of your balance sheet, you need to report it correctly in your ITR-3 filing. This advance should be shown under current liabilities. Specifically, it can be detailed within Schedule BS, Part A, Column 4(ii) as advances received from debtors.

18 May 2024 Dear Sir,

We have advance from Sundry debtor in Credit Side in Balance Sheet. While Filling ITR-3 i dont find anything where i can show Please suggest Can we show under Sundry Creditor

Please advise

18 May 2024 Schedule BS, ITR 3... Part A, Column 4(ii) ...

20 May 2024 You need to show it as Advances received from Debtors under Current Liabilities.


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