Tax Consultant
1527 Points
Posted on 14 July 2026
Part A-OI (Other Information) has fields for closing stock valuation that appear mandatory in the portal , but they only apply to businesses that have physical inventory (raw material, work-in-progress, finished goods).
If you are a service provider, consultant, or professional with no stock-in-trade, the fix is:
- Enter 0 in all stock value fields
- For the Method of Valuation dropdown, select Cost (it is the default and works even when the value is zero)
- The portal will accept zero-value entries and the validation clears
The underlying reason is that ITR forms are built for all business types, so inventory fields show up even when not applicable. Selecting Cost with zero amount is the correct treatment for a nil-stock business.
The Part A-BS (Balance Sheet) section has similar fields , same approach applies.
This [ITR filing guide for freelancers and consultants for AY 2026-27](https://taxgarden.in/blog/freelancer-consultant-income-tax-filing-guide-india-ay-2026-27) covers how to handle these business income schedules correctly.