07 July 2016
Assessee has filed return for AY 2016-17 in ITR-4 but received a notice under section 139(9) of defective return with error code 31 saying you have income under pgbp but have not filled Balance sheet and P&L Where as assessee has filled P&L duly but did not fill Balance Sheet as he is having only personal assets and is not claiming any depreciation. My question is how to fill assets and liabilities as assessee is proprietor having personal assets and liabilities and not any business asset? Also all previous returns were filed in no accounts case.
07 July 2016
as you have disclosed ur income in P/L which pertains to income from business or profession. It is mandatory to fill the details of Balancesheet. Fill Estimated figures of parameters mentioned in No Account Case
07 July 2016
No I have not opted for section 44AD. Can I now show the profit as proprietors capital account and equal amount in cash and bank balance in BS column. If I fill Fixed assets as well then it will calculate depreciation on same.Is there a way by which ITR form doesn't take Dep as i don't want to claim it. Also can NTI and tax/refund differ in the XML which I will upload as a response to 139(9) in comparison with the original return?
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