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ITR 3 and Balance sheet

Abinaya (CA) (27 Points)

17 August 2020

ITR 3 has been filed for the fy 2018-2019. The details of balance sheet and profit and loss account are provided in the books of accounts not maintained column. What to do if the assessee requires balancesheet and p&l for loan process.

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 18 August 2020

You can prepare balance sheet and profit and loss account, based on return filed.
If nothing is mentioned in ITR regarding balance sheet, than also you can prepare keeping in mind the income shown in current year or earlier years, your bank balance or other assets, liability ect.....