ITR - 6 Filing

[Ethirajan Parthasarathy]

Companies have to furnish details of “assets” including Jewellery, Painting etc., Unfortunately, it is not mentioned as “Fixed Assets”.

Assets naturally includes inventories also. Does it mean a Private Company having a Jewellery Shop has to furnish details of jewellery for the above requirement in ITR 6

AI Summary

Debate on Whether Jewelry Inventory Must Be Reported in ITR-6 for Private Jewelry Companies as Fixed Assets A participant in a discussion forum raised a query about the requirement for companies to provide asset details, including jewelry and paintings, in ITR-6 filings. The concern was whether a private company operating a jewelry shop must report its jewelry inventory under this requirement. A respondent clarified that jewelry, being the main part of the business, would not be classified as fixed assets. The discussion invites further opinions on this interpretation.