Notice u/s 139(9)

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Faizan Mir (Querist)
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08 March 2014 hi
My query is
An assessee has income from salary and profession in p/y 2012-13.he filed itr 4 mentioning gross receipts 90k expenses 104000(actual)and a net loss of 14000 to be carry forward .plus his income from salary was 720000.h tds was deducted 9000 and 65000 u/s 194j and 192 resp.Now a Notice under section 139(9) of Income Tax act is received from cpc banglore mentioning the return is considered defective
reasons are as below
1 14 Assessee entering negative amount in gross profit or net profit.
2 23
Where assessee furnish total of amount deducted in Sl.no.2,3,4 and 5 of Schedule BP should be
consistent with Total credits in the P and L Slno.5

so please suggest what to do?shall i make expenses nil or net profit nil

sushil kumar

sushil kumar (Expert)
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09 March 2014 Dear Faizan,
If you want to claim loss under profession, you will have to account audited, then you can claim loss.
However you can file return u/s 139(9)without claiming loss under profession.

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Faizan Mir

Faizan Mir (Querist)
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09 March 2014 but this is nowhere mentioned in any sections ,notifications of IT Act.
Are You sure.what if i minimize my expenses and make Net profit nil.are nt there chances of scrutiny or ITO will doubt the authenticity of expenses shown earlier

shall i make Net profit nil or positive??

sushil kumar

sushil kumar (Expert)
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10 March 2014 Dear Faizan,
If you mention the net profit negative or positive, you will have to account maintain and audit, both is requied unless profit should be 8% or more.

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