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Asset liabilities statement

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(Querist)
30 March 2016 Sir
Is it necessary to parepare in Asset liabilites statement when income exceeds 25 lacs in itr 3. How to prepare it at cost or market price
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 March 2016 Yes, only for the limited purpose of filling schedule AL of form ITR-3. To be prepared at cost.
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Poonam Lohiya

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Poonam Lohiya (Querist)
31 March 2016 sir
how to prepare it just like balance sheet ya only those asset liabilities wich has been asked
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 March 2016 Only that has been asked for.
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Poonam Lohiya

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Poonam Lohiya (Querist)
31 March 2016 is it not necessary to equal the assets to liabilities
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
31 March 2016 No need.........................
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