Balance sheet required to submit

Dear Sir,

 

my client is working as an insurance agent.

his yearly income is forty thousand. (we are showing in regular books of account not maintain.)

last year his share market (short term capital gain ) is around nine thousand.

should he has to submit balance sheet or not?

 

Replies (7)

If you declare insurance commission under IFOS, no need to provide BS details, but otherwise you have to.

sir i am showing uder regular books of account.......

and short term capital gain is doesn't matter for balance sheet?

Short term capital gains is gain over asset/investment. In case, your BS includes such details, than it will get affected otherwise (for BS of business assets) it may not matter....

CONT.......above......short term capital gain is their....with other income....

have i to file ITR 3  or ITR 2????

If TDS u/s. 194H is deducted file ITR3, otherwise you may opt for ITR2.

thanks to clear the same sir...

 

My Pleasure ..         

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