Notice u/s 139(9) error code 31

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2017 i have ITR-4 for AY 2015-16 & AY 2016-17 with profit of Rs.. 234000 and Rs. 245000 respectively. i am a tutor.
i got this intimation u/s 139(9) regarding filling of balance sheet and profit and loss A/c. where it is asked that are u liable to maintain books of accounts i select NO option. is it correct? and do i need to fill balance sheet in NO ACCOUNT CASE or the full balance sheet? plz reply soon

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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25 January 2017 You can declare your tuition income u/s 44AD by showing at least 8% as net profit from gross receipts. In this way you can file your return under no accounts case but you will have to fill in sundry debtors, cash, sundry creditors and stock. Besides you will also have to fill in gross receipts, expenses and net profit in P&L section.