I have filed ITR-4 for AY 12-13 stating my salary income, bank interest and trading loss from F&O transaction under profits and gains from business or profession other than speculative business. Iam not liable to comply under the provisions of sec 44AA and sec 44AB. Under BS part in ITR no details are filled in No Account Case and under P&L, particulars under no account case are filled i.e. gross receipts, profits expenses and net profit/loss.

Now I have got a letter from IT under sec 139(9) stating certain errors:

1. Assessee has claimed loss under the head “Profits and gains of Business or Profession”; however,
he has not filled Balance Sheet and Profit and Loss Account and has not got the books of account audited.

2. Assessee entering negative amount in gross profit or net profit.

3. Where assessee furnish total of amount deducted in Sl.no.2,3,4 and 5 of Schedule BP should be consistent with Total credits in the P and L Slno.5

Query:
1. Is F&O transaction speculative or non speculative and whether it should be shown in business or profession or capital gains.

2. Am I required to maintain books of accounts. My loss from F&O is 3 lac rs on a gross rceipts of rs 31 lacs.

3. How to rectify the return and what all details are now required to be filed in new xml sheet to make it complete.

Need to resolve this query urgently. Pls help.

Please tell any one an we file income tax return without tax audit U/s 44AD on 8% of Sales when original profit is more than 8% of sales as per books of accounts maintained i.e.as per profit and Loss A/c?
(Ex : Sales Rs.25,00,000 ; Net profit Rs.5,00,000; Declared Income u/s 44AD is 8% of sales i.e.Rs.2,00,000 )

What is the due date of filing TDS return in case due date of deduction is 15/04/2013 and tax actually deducted is 16/12/2013.

Sir I have repaid principal amount toward housing loan received by me for the residential house property which under construction and possession not received by me but allotment letter by builder is given to me,Sir my query is regarding allow ability of principal loan repayment deduction u/s 80C(2)xviii) from gross total income?

I have been trying form last 5 days to download form 16a form traces but all time it gives me "invalid details in part 1 and or part 2" even doing all things as per their requirement.
What should i do? plz hlep...

SUPPOSE ORIGINAL RETURNS HAVE BEEN FILED AFTER DUE DATE & IN THAT RETURN ONE FAILED TO FILL ADVANCE TAX DETAILS. SO HOW TO CLAIM THAT ADVANCE TAX ,AS THE OPTION OF REVISION OF RETURN IS NOT THERE....

143(1) order added defferred tax liablity as income.

where to show deferred tax in itr6 correctly while making rectification return?

THE ASSESSING OFFICER IS SCRUTINSING THE ASSESSMENT U/S 143(3) FOR AY 2011-12 AND DETAILS ARE SUBMITTED FOR RELEVANT YEAR,BUT HE IS ALSO ASKING TO SUBMIT THE PARTYWISE PURCHASE LIST FOR THE AY 2009-10 & 2010-11 FOR WHICH NO NOTICE U/S 143(2) ARE ISSUED EVENTHOUGH DEMANDING THE DETAILS FOR PREVIOUS YEARS WHETHER HE CAN CALL FOR THE SAME AS PER LAW PL EXPLAIN

a partnership firm wants to give 5% share in net profit to God and spend the same for His festivals in Temple.
How to execute the deed? can an agreement between partners is enough?The do not mind to pay taxes if any on it?

Dear sir,My question is- "I have submitted my income tax on 20th September but my bank cleared the cheque amount on the 3th October. So Income Tax has sent me a notice regarding delay of submitting the income tax with a valid reason.What should i give the valid reason"? Please help me sir