When preparing your Balance Sheet and Profit & Loss Account for ITR 3, you need to determine which bank accounts to report. If a bank account is solely used for business-related transactions, it can be declared as a single account. Balances from other bank accounts used for non-business income (like salary or capital gains) are generally not included on the business Balance Sheet, as these incomes are reported under their respective heads.
07 July 2026
I have Bank Account which is used by me for Transactions related to my Income from Business.
I also have other bank accounts which is used for transactions related to other heads on Income like Income from SaIary,CapitaI Gains , Interest Income etc
When I prepare Balance Sheet and P/L Account for filing ITR 3,whether I need to show bank balances of All Bank Accounts or I can show Bank Balance of only Business related Bank.
Income which is generated in other bank accounts will be shown in respective Income heads