Clause 16(d) of Form 3CD

[Krishna Murthy]

Sir, Clause 16 is about 'Amounts not credited to Profit and Loss Account' and Sub Clause (d) 'any other item of income'. Does this Clause 16(d) means any income which is not credited to Profit and Loss Account needs to be reported. Especially for a Proprietary Concern there can be Income From House Property or Income From Other Sources (Interest on Fixed Deposits) which are normally not credited to Profit and Loss Account. Does this clause cover to include such incomes which are not Credited to Profit and Loss Account.

AI Summary

Amounts not credited to the Profit and Loss Account - whether uncredited incomes must be disclosed under clause 16(d). Clause 16(d) of Form 3CD concerns amounts not credited to the Profit and Loss Account and asks whether sub clause (d) 'any other item of income' requires reporting of incomes not credited to the Profit and Loss Account-for example, Income From House Property or Interest income in a proprietary concern.