Balance sheet

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sumit chawla (Querist)
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03 August 2012 i am filing itr- from 2003-04 withou filing b/s and p/l account ...business shown is tuition income....as now i have purchsed one property in 2011-12,,,so now I want file B/S ..how to proceed ....

CA Guru M

CA Guru M (Expert)
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03 August 2012 Dear Sumit,

Its not clear about your business or profession structure whether Company or Firms.

In case of Company filing of Financial statement with ROC is mangatory. Whereas same is not applicalbe for firms.

For filing IT returns there is no requirement to file Balance sheet & Profit & loss account with ROC.

Relevant information of Balance sheet & Profit & loss Account needs to be mentioned in IT Return.

Hence purchase of property which is asset needs to be shown in ITR irrespective of your filing status.

If your query not resolved, then kindly provide the exact details in order guide you properly.

Thanks.

sumit chawla

sumit chawla (Querist)
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06 August 2012 hello . well i am an individual ...i am filing itr - 4 from 03-04 by just showing gross recipts and not furnishing B/S and P/l A/c...

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