10(23)(iiiad)
This query is : Resolved
19 May 2018
Our is a Educational Institution. Turnover is below 1 crore. Now we getting Net loss for the A.Y.2017-2018. We filed return in ITR-7, but it shows defective u/s 139. The error is
Error Code-92
Error Description
Assessee has filed return in Form Type 7, and has not claimed any deduction/exemptions under section 11 or clauses of Section 10 or Section 13A or Section 13B in Schedule Part B-TI of the return
Probable resolution
If eligible for benefit of deduction/ exemption under section 11 or clauses of section 10 or section 13A or Section 13B the same need to be claimed in the return. In case the assessee is not an institution required to file return under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) the return should be filed in prescribed form i.e ITR 1 to 6 , as applicable.
Shall I file in ITR-5
Error Code-92
Error Description
Assessee has filed return in Form Type 7, and has not claimed any deduction/exemptions under section 11 or clauses of Section 10 or Section 13A or Section 13B in Schedule Part B-TI of the return
Probable resolution
If eligible for benefit of deduction/ exemption under section 11 or clauses of section 10 or section 13A or Section 13B the same need to be claimed in the return. In case the assessee is not an institution required to file return under section 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F) the return should be filed in prescribed form i.e ITR 1 to 6 , as applicable.
Shall I file in ITR-5
CA R SEETHARAMAN
(Expert)
19 May 2018
To claim exemption under the above section no ITR has been prescribed hence no need to file any return up to 1 crore gross receipts.
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