ITR-3 -Required Balance sheet if above 250000 income

This query is : Resolved 

Quick Summary
If your business income in ITR-3 exceeds £250,000, you might be prompted to submit a balance sheet. However, if your income is derived from specific sources like Section 44AD and partnership income, and falls within certain limits, you may only need to fill in the 'No Account Case' details in Schedule BS. This avoids the need for a full balance sheet submission.

26 July 2023 Income from 44AD is to 2,00,000/- and income from partnership Rs.1,00,000/- which are shown as business income in ITR-3. Error indicates submission of balance sheet as business income exceeds 2,50,000/- lakhs. Whether balance sheet required

26 July 2023 Only details in sr. no. 6 of 'No Account Case' in Schedule BS, need to be filled.

13 September 2024 Good luck.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details