Dear Sir, In balance sheet we have advance received from sundry debtors.
so while filling ITR 3 under current Liablity below column have so where can i show
1. SUNDRY creditors
2.Liablity for Leased Assets
3.interest accured on above
4.interst accured but not due on loans.
You have to report in Part A Balance sheet in Table 4 ( Advances) either in 4(i) or 4(ii) , whichever is appropriate .I think 4(i) is Advance form related party ,and 4(ii) others . just confirm and take more opinion on this before reporting in ITR3 .
CAclubindia
