Trust Balance Sheet Format 2023-24

To create a Trust Balance Sheet for the financial year 2023-24, you can follow these general steps:

1. Prepare a Consolidated Balance Sheet:
   • Include details of assets, liabilities, and equity.
   • Specify the sources of funds and how they have been utilized.
   • Follow the format of Part A-BS in ITR 7 Form for AY 2023-24.
2. Income & Expenditure Account:
   • List all income and expenses incurred during the fiscal year.
   • Use a format similar to the Profit and Loss account.
   • Refer to the guidelines for trusts and NGOs mentioned in Form 10B.
3. Audit Report (Form 10B & 10BB):
   • Ensure the audit report under 3CA/3CB includes the Balance Sheet and Profit and Loss account.
4. Upload Documents:
   • If filing online, upload the consolidated Balance Sheet, Profit and Loss account, and audit report in PDF or zip file format.

Trust Balance Sheet

Assets	Amount (USD)
Cash and Cash Equivalents	1,000,000
Accounts Receivable	500,000
Total Assets	1,500,000

Liabilities	Amount (USD)
Accounts Payable	200,000
Loans Payable	300,000
Total Liabilities	500,000

Equity	Amount (USD)
Opening Balance	800,000
Net Income	200,000
Total Equity	1,000,000

It’s important to note that this is a general template, and the specific accounts and classifications may vary based on the type of trust, accounting standards, and legal requirements applicable to the trust. It’s recommended to work with a qualified accountant or financial professional to ensure accuracy and compliance with relevant regulations.