Return filed u/s 44ad_declared defective regarding

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Ritesh (Querist)

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

Amol S Joglekar

Amol S Joglekar (Expert)

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.

Ritesh

Ritesh (Querist)

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

Amol S Joglekar

Amol S Joglekar (Expert)

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.

Ritesh

Ritesh (Querist)

06 November 2016 Thanx Sir for your analytical answer.

Amol S Joglekar

Amol S Joglekar (Expert)

06 November 2016 you are most welcome.

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