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Items under Asset of Balance Sheet

ITR 276 views 3 replies

lucky

MBA

49 Points Joined August 2013

I plan to file unaudited ITR3 for FY 2018 - 2019 as I have carry forward speculative losses and stcl from past years.

Please confirm which items I need to include under Balance Sheet Assets Investments

Should I include PPF, EPF and NPS also or can they be skipped?

Replies (3)

sabyasachi mukherjee

28075 Points Joined May 2017

SCHEDULE III IS CLASSIFIED UNDER NON CURRENT ASSETS AND NON CURRENT ASSETS.

@ lucky
In so far as assets related to your speculative business that you should include. Not necessary to include Personal items. (ITR3 Schedule Part A-BS)
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Sabyasachi Schedule III of ??? Under Non current Assets ?? For ITR3 ?? pl explain ....

Suresh Thiyagarajan

Student

3986 Points Joined July 2018

1. It is necessary as per sec 80 to file a return before the due date in order to carry the forward loss.
2. In your case, if you are filing ITR-3, the item should contain your business-related assets and investments. No need to specify your personal investments.
Please correct me if the above solution has an alternative view.