Defective income tax return u/s 139(9)
This query is : Resolved
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.
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.
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.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- GST Reverse
- Two seprate Invoice needed
- Director payment
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
