20 June 2013
I received notice u/s 139(9)in which it says that there is negative profit in gross profit or net profit in schedule.
actually, my client incurred loss derivative of Rs. 12000 and i have shown negative profit i.e loss and in profit loss schedule, i have shown this loss under the head" Assessee not maintaining Books of Account" hence i did not fill profit and loss a/c and balance sheet.
Now, while responding to this notice, what should i do?
20 June 2013
System is such that if there is negative profit, it won't accept details in the head "Ass not mntng Books of Accounts". This is strange but true. Hence Notice u/s 139(9).So u will have to file revise return giving all required details. Pl note that actually this is not a revised return. So your return will not be uploaded if u select REVISED Tab. Again u won't have to send ITR V, as the same will never be generated if filed u/s139(9)
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