We have received the notice from the department stating following Points - 1. In schedule ER, amount entered in Sr.no. 19 [Total] is inconsistent with the sum of Sr no (1 to 18) of Schedule ER. 2. In Schedule Part-BTI Assessee has claimed exemption in sr no 4v “Amount deemed to have been applied to charitable or religious purposes in India during the previous year as per clause (2) of Explanation to section 11(1)”. As per Rule-17 of Income Tax Rules, the exemption is allowed only if assessee has exercised his option by E-filing Form-9A before due date. Since assessee has not E-fiiled Form-9A before due date, the exemption claimed in sr no 4v is not allowed. 3. As per section 12A(1)(ba) Income Tax Act, 1961 the person in receipt of the income has furnished the return of income for the previous year in accordance with the provisions of sub-section (4A) of section 139, within the time allowed under that section. otherwise The exemption u/s-11 i.e. sr.no 4i and 4viii in schedule Part BTI is not allowed
Can you Please guide, This notice is for FY 2017-18. Also there has been a delay in filling of ITR and 9A
02 February 2020
I have filed a condonation of delay in filing of form 10B and 9A with Department. Should I File ITR 7 by rectifying it or wait for the department to respond.
CAclubindia
