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Should money in bank account be shown in amount of total sundry debtors

ITR 1077 views 2 replies

chetan

insurance agent

35 Points Joined June 2018

I am an insurance agent and while filing ITR3 balance sheet item 6 there is a question which goes as

a)" Amount of total sundry debtors:

b)Amount of total sundry creditors:

c)Amount of total stock-in-trade:

d)Amount of the cash balance

i don't have any other source of income besides agent commission and some cash amount in my savings bank account.so what should i fill in this part

Replies (2)

Ashoka Reddy

12 Points Joined June 2018

No . money in bank account shown as cash in bank. Not as of total of sundry debtors

No ... make a cash account for the year which you are filing return i.e. all the transactions done by you in cash which includes deposit in bank and cash withdrawn from bank as well and any other cash transactions made by you . The balance cash you have in hand on 31 March will come in that "Amount Of Cash Balance "

Also remember to take opening cash balance

However you can also put some estimated amount in lump sum as cash balance also if you are unable to make cash account