ITR 3 Valdation Error for AY 2023-24

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This query is : Resolved

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Users are encountering an ITR 3 validation error for AY 2023-24, stating that business income is over £2.5 lakhs but the balance sheet hasn't been filled. This occurs even when filing under presumptive income and reporting capital gains loss. The advice given is to ensure all mandatory fields in the presumptive business section, Schedule BS, and Schedule P&L are completed. If issues persist, filing a grievance with a screenshot is recommended.

Akshay Chikalge

Akshay Chikalge (Querist)
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02 June 2023 Respected Sir/Madam,
the following error is persists when validating the ITR 3 return.
Error :- Income from Profits and Gains from business or profession is greater than 2.5 lakhs but balance sheet is not filled.
We have business income and capital gain loss. So we are filing ITR 3 return under presumptive income for business and showing capital gains loss under short term capital gain head.
But when uploading return the above error persists.
So whether is it mandatory to fill balance sheet and profit and loss account when we have Income from business and also income/loss from capital gains.?
Please guide.
Thank You

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 June 2023 Have you filled the Business data under presumptive assessment?
If no, the said financial details are mandatory.

Akshay Chikalge

Akshay Chikalge (Querist)
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02 June 2023 Yes sir I have filled the particular data under presumptive business.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 June 2023 Hope you would have also filled mandatory details as in col.6 of schedule BS & relevant fields in Schedule P&L.
If yes, file complaint under 'Grievance', along with error screenshot.

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