Defective income tax return u/s 139(9)

Save Share

This query is : Resolved

Jayesh (Querist)

05 March 2018 Clients having profession income where we have shown 50% income u/s 44ADA as presumptive and other is shares f&O where there is loss, so in share business we did audit and show sales of products/goods as total of transactions gain and other exps., figure as total of loss transactions.
So I show in itr two diff line under head IFBP one 40ada and second business as loss and filled p&l of loss only, notice is as follow:-
Error code no. 181 :- a) The Gross Receipts is not mentioned in the Profit & Loss A/c, OR b) The profit shown is less than 50% of the gross receipts as prescribed u/s 44ADA but has not mentioned the maintenance of the books of accounts and audit report u/s 44 AB in part A-General and the total income exceeds the maximum amount not chargeable to income tax."

I have checked where in my office has ticked non-maint of book, that I will change my Q is how can I show 44ADA income in p&L a/c if I will do so then my business income will not tally with P & L a/c pl. guide on this or any other possible way call if possible will be appreciable 9076552290.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)

05 March 2018 Did you fill additional details of cash, debtors, Stock, creditor, some of this applicable to be entered, in P&L Gp Exps NP to be shown which are mandatory for non maintain books of accounts.

Profession code 601-607 should be tax code for filing u/s 44ADA.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now