In ITR-3 Balance Sheet of Business, where should the "Balance with Broker" go?

This is regarding a sole-proprietor carrying on a trading business.

Since the balance amount maintained in a trading account with a discount-brokerage company is a current asset (and not being the balance of an official bank account), is it suitable to mention it under "Cash-in-hand", or should it go under "Other Current Assets", in ITR-3 Balance Sheet of business? If not, please suggest an appropriate categorization.

Thank you in advance, experts!

 

Replies (10)
Quick Summary
This discussion addresses the correct placement of 'Balance with Broker' on an ITR-3 balance sheet for a sole proprietor involved in trading. The consensus leans towards categorising it under 'Other Current Assets' rather than 'Cash-in-hand', as it represents funds held with a discount brokerage and not in a traditional bank account. It's advised to consult a tax professional for definitive guidance.

Yes, You can show it under OTHER CURRENT ASSET
NO NOT A CORRECT DISCLOSURE
Then how it's disclose @ sabyasachi...

if you have any ideas then please give your correct reply .... otherwise pls go ahead...
don't be give blind reply in every query...

🙏🙏🙏🙏🙏🙏🙏

@ RAJA P M, Thank you very much.

 

You are most welcome Mr AB

Tax laws and procedures can vary, and it's crucial to consult with a tax professional or legal advisor for advice specific to your client's situation. However, I can offer some general considerations:

Time Limit for TDS Refund:

In India, there is a time limit for claiming a refund of excess TDS (Tax Deducted at Source). Generally, the time limit for filing a TDS refund claim is within two years from the end of the financial year in which the tax was deducted.

For the financial year 2015-16, the deadline for claiming a refund would typically have been by the end of the financial year 2017-18.

For further more detailed information on this topic visit: What is the ITR 3 and How Can You File it?

To read more such trending content, visit Swipe Blogs.

Current assets is correct.
Download sole propreitor , balance sheet of business.
Originally posted by : sabyasachi mukherjee
Download sole propreitor , balance sheet of business.

🙏🙏🙏🙏🙏🙏🙏🙏

I absolutely love this blog! Your ability to simplify complex topics while keeping the content engaging is truly impressive. I always feel like I gain something new after reading your posts. Keep sharing your knowledge and passion—it’s truly appreciated! uno online

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 10 August 2026
Article Assistant

Suraj Garg and Associates

New Delhi

CA Inter

View Details
Company
04 August 2026
ACCOUNTANT

CA RAM KISHOR KUMAR

Others

B.Com

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
ARTICLESHIP 14 August 2026
Article Assistant

N J Suresh & Associates

Bengaluru

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
Featured 06 August 2026
Junior Accounting Associate

Prish Consultancy LLP

New Delhi

B.Com

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details