24 January 2015
My is a 44AD income and interest income. I had filed a return for refund instead i have got a demand from the income tax (cpc) with increasing the 44AD income *2. The mistake i see in the intimation is it had enter GROSS PROFIT as zero and NET INCOME as 120750. But the CPC has calulated as Gross Profit as 120750 and Net Profit as 120750. it also says "Profit or loss after adjustment for depreciation (10 +11 - 12iii)" - 120750. So can some one guide me.
CAclubindia
