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

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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)
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?

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

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