Error in ITR3 - OS sheet.

1672 views 5 replies

Hello everyone, Please Guide me on this:

Options turnover is 7 lacs

Options Loss in 4 lacs.

From above information, I am not liable for any Audit.

Filled up ITR3 properly, in Audit info sheet (under General info) selected No for all audit questions.

But while validation I get error for Part A (Other informations sheet) – asking to provide information about raw material (cost or market value) etc. - form is not getting validated without filling it.

My query is that Part A (other information) is required to be filled up if person in under audit, I am not under audit, so why this error appears, how to solve this?

(Note I tried to remove this sheet be deselecting it from add new sheets option, but then too this error persist, tried several times)

Replies (5)
Quick Summary
This discussion addresses a common ITR3 validation error where the 'Other Information' (OS) sheet requires details like raw materials, even when the taxpayer is not liable for an audit under Section 44AB. The user correctly selected 'No' for audit requirements but encountered the error. The solution involves correctly answering the question about maintaining books of accounts under Section 44AA. If you are trading options, you are generally required to maintain books, and selecting 'Yes' to this question, then filling the OS sheet with 'At Cost' for relevant items, resolves the validation error and allows for successful JSON generation and upload.

Check if you have selected yes to 'whether you are required to maintain  books of accounts?'

Yes, Selected "yes" in you are required to maintain books of accounts. 

So, select 'No' to remove the defect.... Note: there is difference in audit trial & maintaing books...

Thank you Dhirajlal ji for your guidance, but I am little confused.
As Normally I select this every year as YES (maintaining books under section 44AA).
As I file ITR3 due to options trading, to my understanding till now, maintaining books is mandatory for options trader.

Secondly, about current problem, if I am filling up the PART A OI sheet, by filling Raw Material & Finished Goods column by selcting reply "At Cost", then form gets validated without error & json generates.

Confused, as "are you aliable for Audit u 44AB" is selected as NO,  (OI sheet is mandatory for cases liable for audit under 44AB), but here OI sheet error appears at time of Validation in my no audit case, after filling this OI sheet by clicking link in error descripttion, form gets validated without error.

Shall I upload this Json.

You are not liable to tax audit u/s. 44AB......

It is different than You are liable to maintain books of accounts u/s. 44AA....

Select them properly...

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
20 July 2026
Senior GST Executive

Chandak Agarwal & Co

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
21 July 2026
Chartered Accountant

Keshri & Associates

Thiruvananthapuram

CA

View Details
Company
ARTICLESHIP 17 July 2026
Article Assistant and B.com pass

BANSAL YOGESH AND CO

Gautam Budh Nagar

B.Com

View Details
Company
Featured 16 July 2026
CA Inter, CA Intermediate, CA IPCC, CA CPT, CA SemiQualified

Vakilsearch.com

Chennai

CA Inter

View Details