It notice
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2018
Dear Experts,
I have filed ITR for A-Y 2015-16 in which i filed proprietor capital balance as nil (I have filled only assets value).
While filing ITR for A.Y 2016-17 i filed proprietor capital as Rs.7,00,000.
Now I have received limited scrutiny for A.Y 2016-17 in which they asked me to submit Capital A/c.
I have submitted the same but again recd notice stating that opening balance of capital is nil for A. Y 2015-16 and in A.Y 16-17 capital account you have shown opening Rs. 300000 ?
How to reply now pls suggest.
I have filed ITR for A-Y 2015-16 in which i filed proprietor capital balance as nil (I have filled only assets value).
While filing ITR for A.Y 2016-17 i filed proprietor capital as Rs.7,00,000.
Now I have received limited scrutiny for A.Y 2016-17 in which they asked me to submit Capital A/c.
I have submitted the same but again recd notice stating that opening balance of capital is nil for A. Y 2015-16 and in A.Y 16-17 capital account you have shown opening Rs. 300000 ?
How to reply now pls suggest.
15 November 2018
If you filed your ITR for 2015-16 u/s 44AD i.e. under no accounts case you can simply reply that I have filed u/s 44AD where I was not required to mention details of capital account nor was I required to maintain books of account.
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