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LOAN TAKEN AND REPAID IN FULL IN THE SAME FINANCIAL YEAR

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TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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11 June 2023 An interest-free loan worth Rs. 150000 had taken on 01.05.2022 for payment of the PPF account but the same was repaid in full on 28.03.2023. How to show the same in the balance sheet in ITR-3? Kindly help by way of sending your valuable opinion. Regards, T.K.ROY, West-Bengal

TARAK KUMAR ROY

TARAK KUMAR ROY (Querist)
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11 June 2023 Please send your valuable opinion as usual. Regards, T.K.ROY, West-Bengal

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 June 2023 As there is no outstanding loan as on 31.03.2023, it cannot be shown in BS as of 31St March, 2023.

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