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Books of account is mandatory for lic agent

m baul (service) (69 Points)

21 August 2018

Dear sir/madam

I am a LIC Agent and I maintain my books of account.But I want to know that when I fill my ITR 3 is it mandatory to fill up all the details like proprietor capital,current assets,loans and advance,depreciation,expenses details etc.

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7 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174763 Points)
Replied 21 August 2018

Yes, whichever are business related......

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Sarath Rajendran (Nil) (2791 Points)
Replied 21 August 2018

It is manadtory ( You can put "Zero" value if you have no amount figure in any column)

Debiprasad Jana (295 Points)
Replied 21 August 2018

you can put zero

m baul (service) (69 Points)
Replied 21 August 2018

It is very helpful for me if you describe the matter sir

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (174763 Points)
Replied 21 August 2018

Business related assets and liabilities are only required to be filled. Or personal investments and details (capital account details) are not necessary.

If you do not have office set up or any other depreciable assets for running the business, just bank balance, cash in hand, and sundry debitors, if any; be filled. Rest all can be just zero.

Good luck.

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CA Bhavik Soni (867 Points)
Replied 21 August 2018

kindly fill bs and pl details in itr as required

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CA P V N Varma (CA ) (609 Points)
Replied 21 August 2018

if balanace sheet and p&l is prepared then fill the same..
if u have no such information then you have to fill at least mandatory columns in balanace sheet like cash, debtors, creditors etc.. under non maintenance of books of accounts