Schedules: Schedules of ITR 3 forms as valid relating to salary, business or profession, house property, other sources etc. For example, FIFO or weighted average method, amount allowed and disallowed under various sections. The ITR 3 is divided into four major parts – Part A, Schedules, Part B-TI and Part B-TTIġ) Part A-BS: Balance Sheet as of 31 March 2020 of the profession or proprietary businessĢ) Part A-Manufacturing Account- Manufacturing account for the AY 20-21ģ) Part A-Trading Account- Trading account for the AY 20-21Ĥ) Part A-P&L: Profit &Loss Account for AY 2020-21ĥ) Part A-OI : It includes mentioning the method of accounting followed by the taxpayer in the previous year, change in accounting method (change from accrual system of accounting to a cash system, valuation method employed for the stock).
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