Rectification U/s 139 (9)


(Querist)
22 October 2019
Dear Friends,

One of my friend has received a rectification notice from Income Tax Department fo FY 18-19 return.
He had received Rs.567000/- as professional income from a company which deducted 10% TDS and deposited money in his account. To earn this income he had paid around 3 lacs to some other professionals, after paying the amount actual income of his comes to 2 Lac Rs. In the return we have shown 2 lac as his income and TDS 56700/-. Here Income Tax Department says that the total income to be shown is Rs. 567000/-. How shall i make the Income Tax Authorities understand that only Rs. 2 Lac is his taxable income. Please help me in this. I need solution for this.

Regards,
Yajuvendra Rawat


CA R SEETHARAMAN (Expert)


Click to Talk 23 October 2019
Show gross income as 567000 and claim 3 lacs as expenses in the return.
You can file ITR 4 u/s 44ADA.

Yajuvendra Rawat (Querist)
23 October 2019
I was planning to do that but was not sure. Thank You Sir thank you so much

CA R SEETHARAMAN (Expert)


Click to Talk 24 October 2019
Welcome.................

Yajuvendra Rawat (Querist)
30 October 2019
Sir,

Is it ok if i show 567000 as income and expenses amounting to 368000 in the revised return. Balance Rs. 198980 i will offer for Income Tax, as it was offered earlier the only difference will now be the return filed U/s 44ADA as suggested by your goodself. Is it ok if the refund remains unchanged.

Please let me know.

CA R SEETHARAMAN (Expert)


Click to Talk 31 October 2019
Show 567000 as income and expenses amounting to 368000 in the revised return. Balance Rs. 198980 i will offer for Income Tax, as it was offered earlier.


RAJA P M (Expert)


Click to Talk 31 October 2019
If assessee will file ITR-4 then Profit will be shown Rs. 283500/- as per sec 44ADA...

CA R SEETHARAMAN (Expert)


Click to Talk 31 October 2019
Yes add Rs 1 to the above profit so that ITR software accept it.

RAJA P M (Expert)


Click to Talk 31 October 2019
Respected Sir.,
I can't understand Sir...

CA R SEETHARAMAN (Expert)


Click to Talk 31 October 2019
ITR software donen't allow exactly 50%.


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