Regarding filling of return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2017 I had submitted income tax return on the basis of form 16A in it TDS deduction under section 194 J i.e consultany and the same income showing under business and profession but now CPC issued a noticed for for defective return 139 for not submitting profit and loss and balance sheet but income earn by me from consultancy basis from lectureship in private institute.

Let me guide how to rectify such defect and it is necessary to provide P & L and BS.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 March 2017 It is necessary to provide P&L and BS. I will tell you the simple way how to fill P&L and BS in the return form. In the P&L format of the return enter the professional income under sale of services, enter any expenses under appropriate heads. No expenses leave it.
Under Balance sheet enter cash and bank balance under sl No, 3 and enter the same amount under sl No. 1 proprietor's capital, By doing this you are complying with the requirements. Upload the xml file with this correction your return will be accepted.
Still if you face any problem call me 9443357248.

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