Section 40a(2)(b)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2016 Sir,
In ITR-5 balance sheet of unsecured loans consists "from persons specified in section 40A(2)(B) of IT Act" and in 3CD column no.23 consists "particulars of payments made to persons specified under section 40A(2)(B)".
what is the difference between these items.
if we enter the details in balance sheet can we entered the same details in 3CD.
Thank in advance plz reply ASAP

Amol S Joglekar

Amol S Joglekar (Expert)
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28 September 2016 yes, the details are to be entered in the format given in the form 3 CD.....no matter if they are same....
(In fact there many other details which are same in form 3 CD and the balance sheet or the financials.....e.g. name of assessee, PAN, address, financial year etc.)

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