Easy Office
LCI Learning

Cpc notice u/s 139(9)


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 A partnership firm declared their income u/s 44AD and filed ITR 5 after entering the income details in Schedule BP of ITR 5 leaving Part A BS and PL blank. Now CPC ordered the return as defective due to blank BS and PL. If the assessee fill the P&L, instead of 44AD, then it is liable to pay interest u/s 234B and C. So how to sort out this issue..pls help expert..thanks..

26 November 2015 But in that case , have u marked in the no books of accounts ?

Given details of no maintenance of books of accounts ?

Nice Question.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 Answer "No" has been given against the Question "Are you liable to maintain books of accounts as per Section 44AA" in ITR 5




26 November 2015 Not that... its different ....

No books of accounts & u/s 44 AA are both different.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 Thanks for your reply.. but I think there is no other question like whether books of accounts are maintained.. is there?

26 November 2015 let me find & inform u ... tom ok.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 okay..thank you...........

26 November 2015 Below in balance sheet sheet there is option see it. IN Utility of excel below balance sheet.




Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 Sir..that i have tried..there we can give drs,crs, stock, cash etc...likewise when we fill P&L, we have to give gross receipts, GP, expenses, NP... If we fill this P&L summary, Interst u/s 234B and c will get attracted..

26 November 2015 but give cash stock etc... thats it....

This is to be given when no books of accounts has been maintained.

I Am not sure this will solve your issue.. but it might solve.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 November 2015 Will try.. but CPC directed to fill P&L also..any way you have well supported to solve this issue by spending valuable time..thanks again...

27 November 2015 See entire P&L is not required to be filled since it is a case of no books of account u/s 44AD just fill gross receipts, GP, expenses and NP. Likewise in BS give cash, stock, debtors, creditors etc. Your NP should tally with income declared by your under PGBP head in computation part.




Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
27 November 2015 When we fill gross receipt, GP, expenses and NP, then the NP will automatically carried to Schedule BP as Profit before tax and hence we are liable to pay interest u/s 234B and 234C. Also, if we adopt this method of declaring income u/s 44AD, we have no option to indicate that we are declaring income under that section.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries