Hello.
I got my firm audited by CA.
He attached the audited report, Trading and Balance sheet in the ITR 3 form.
Do i need to make my indivual balance sheet and Trading. My CA said it is not required.
He didn't make my indivuals Trading and Balance sheet.
Is it okay?
He said even if he make my Balance sheet and Trading he won't attested and attach it.
What should I do now?
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Problem with return filing
Replies (6)
Quick Summary
No it is not required to prepare your individual balance sheet trading and profit and loss account in itr3
Your CA is correct
Your CA is correct
Individual firm balance sheet is not required.
He is not required to prepare balance sheet but, he can file itr.
He is not required to prepare balance sheet but, he can file itr.
Individual Firm that is proprietary concern in present case is under tax audit and only then individual will go for audit. Personal individual BS is different and hence CA might have declined to do.
A sole proprietor can carry on his business with the help of a manager having different trade name and a seperate gst no. and pano.
The proprietor has to get his accounts audited.
He may or may not opt for a seperate gstn no.
Or he may not have a gst registration as per the provisions of gst act.
The threshold limit is different.
In that case he as an individual needs to file a seperate itr.
A sole proprietor can carry on his business with the help of a manager having different trade name and a seperate gst no. and pano.
The proprietor has to get his accounts audited.
He may or may not opt for a seperate gstn no.
Or he may not have a gst registration as per the provisions of gst act.
The threshold limit is different.
In that case he as an individual needs to file a seperate itr.
No you don't require
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