In ITR 4, option in col. no. 53 (No account case) is filled up Can CPC insist for profit & loss account & balance sheet of an assessee (non sr. citizen) having commission income of (after deduction of 30% commission income is bellow taxable) income from other sources (interest around Rs. 15000) total deduction u/s. 80C & D is Rs. 30000, after all deductions income comes to Rs. 140000/-
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Itr 4, can CPC consider ITR as a defective return u/s. 139(9) if P & L account & Balance sheet is not required to file ?
Replies (3)
"........... having commission income of (after deduction of 30% commission income is bellow taxable)................"
Department is right to declare the ITR as defective, because commission income cannot be assessed under section 44AD (No account case).
You have to fill the details as per BS and P&L accounts in ITR4.
ok
Sir, thank you
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