Filing of return u/s 10(23c)(iiiad)

ganesh (partner) (41 Points)

11 May 2016  
As per the provision, if the annual receipts is less than 1 crore than entire receipt is exempt from tax. Whereas the cpc processed the return and treated as defective. The reason stated in the notice is income is more than 2 lakhs. Hence audit is compulsory. kindly resolve the issue