Error code 181 defective return

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Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2017 I also got a notice with Error code 181 , though I filled ITR3 as follows under Profit and loss account srno 53(ii) for profession (medical) for No account case under presumptive scheme under section 44ADA:

Gross receipts say = Rs450000/
Gross profi t 298000
Expenses = 10000
Net profit = 288000/- more than 50% of gross receipt
In Sch BP - Deducted 288000/- in col .4 and then added the same in col.35(ii) under section 44ADA

Also shown income from house property and capital gains.
Now need suggestion as to how to rectify the defective return.

RAJA P M

RAJA P M (Expert)
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31 October 2017 What is the exact error

Querist : Anonymous

Querist : Anonymous (Querist)

01 November 2017 I have received a notice from IT department u/s 139(9). The reason mentioned is error code 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 filled ITR3 as follows under Profit and loss account srno 53(ii) for profession (medical) for No account case under presumptive scheme under section 44ADA:

Gross receipts say = Rs450000/
Gross profi t 298000
Expenses = 10000
Net profit = 288000/- more than 50% of gross receipt
In Sch BP - Deducted 288000/- in col .4 and then added the same in col.35(ii) under section 44ADA
I do not think I have filled up any wrong column.
Also shown income from house property and capital gains.
Now need suggestion as to how to rectify the defective return.