Return filed u/s 44ad_declared defective regarding
This query is : Resolved
03 November 2016
Hi,Experts
U/s 44AD Assessee filed the return in ITR4
In a case where regular books of account of business or profession are not maintained, the following information for previous year 2015-16 in respect of business or profession was declared in the return.
a Gross receipts
b Gross profit
c Expenses
d Net profit
But return declared as defective by cpc and ask complete details of pl and B/s.should be entered in the return.
Please give your expert advice.
Best Regards
U/s 44AD Assessee filed the return in ITR4
In a case where regular books of account of business or profession are not maintained, the following information for previous year 2015-16 in respect of business or profession was declared in the return.
a Gross receipts
b Gross profit
c Expenses
d Net profit
But return declared as defective by cpc and ask complete details of pl and B/s.should be entered in the return.
Please give your expert advice.
Best Regards
03 November 2016
For presumptive taxation ITR 4S should be filed.
You opted for "No account Case" in ITR 4......so CPC has rightly invoked the query.
Now submit your answer to CPC, stating the above facts and ask for the relief.
You opted for "No account Case" in ITR 4......so CPC has rightly invoked the query.
Now submit your answer to CPC, stating the above facts and ask for the relief.
03 November 2016
Thanx for the prompt reply.You are absolutely correct.
Please refer to point no.53 of ITR-4.
In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2015-16 in respect of business or profession
Gross receipts
Gross profit
Expenses
Net profit
Please clarify me the relevance of above.
Regards
Please refer to point no.53 of ITR-4.
In a case where regular books of account of business or profession are not maintained, furnish the following information for previous year 2015-16 in respect of business or profession
Gross receipts
Gross profit
Expenses
Net profit
Please clarify me the relevance of above.
Regards
03 November 2016
Please try to understand..... the point which you want to extend is called as NO ACCOUNT CASE.
Please read section 44AA which is for " maintenance of accounts by certain persons carrying on profession OR business.
(Merely because you did NOT maintain books of accounts does NOT entitle you to file ITR4, NO ACCOUNT CASE. )
It seems that your turnover was liable for maintaining books of accounts.
If you want to opt for 44AD...then no need to maintain books of accounts.
So as I said, write a letter to CPC......as far as possible be polite in your letter to CPC.
Please read section 44AA which is for " maintenance of accounts by certain persons carrying on profession OR business.
(Merely because you did NOT maintain books of accounts does NOT entitle you to file ITR4, NO ACCOUNT CASE. )
It seems that your turnover was liable for maintaining books of accounts.
If you want to opt for 44AD...then no need to maintain books of accounts.
So as I said, write a letter to CPC......as far as possible be polite in your letter to CPC.
06 November 2016
you are most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
