14 June 2017
My client having propritorship converted to partnership firm & transfered all asset & liabilities on 01/04/2015 to partnership firm and filled return for f.y 2015-16 showing income from partnership firm in itr 4 by mistake.now he had receive notice for defective return now how to response it. The error code is 310 i.e file Profit & loss a/c & balancesheet. but as said earlier the p&l and balancesheet has no value as all asset and liabilities is transfered to partnership fiem via capital a/c. and the original return was filled belated. so what to do pls help me out. can i correct form itr 3 in response.