Schedule Part A-BS – Balance Sheet AY 2026-27
Schedule Part A—Balance Sheet (Part A-BS) in the ITR form requires taxpayers to furnish details of their Balance Sheet as of March 31st of the relevant financial year. This schedule applies to individuals, Hindu Undivided Families (HUFs), firms, LLPs, companies, and other entities that earn income from business or profession and are required to maintain books of accounts.
The purpose of Part A-BS is to provide a comprehensive snapshot of the taxpayer’s financial position, detailing assets (like fixed assets, investments, current assets, and loans & advances) and liabilities (proprietor’s capital, loan funds, and deferred tax liabilities).
In cases where regular books of account of business or profession are not maintained, the taxpayers are required to fill out details under ‘No Account Case’, wherein the total number of debtors, creditors, stock-in-trade, and cash balance is only required.
This schedule applies to ITR-3, ITR-5 and ITR-6.