Sec 44AD
This query is : Resolved
02 December 2019
I have filed return of one of my client having income under section 44AD (T/o was 1.5 cr); there was also capital Gain so we filed ITR 3, Since Section 44AD doesnot require P&L we have not prepared the same.
But now I have received the notice u/s 139(9) having error as : "Tax Payer has claimed gross receipt or income under the head “Profits and gains of Business or Profession” more than Rs. 1 crore; however, he has not filled Balance sheet and Profit and Loss Account and has not got the books of accounts audited."
Kindly provide me the solution for the same.
Thanking in advance.
But now I have received the notice u/s 139(9) having error as : "Tax Payer has claimed gross receipt or income under the head “Profits and gains of Business or Profession” more than Rs. 1 crore; however, he has not filled Balance sheet and Profit and Loss Account and has not got the books of accounts audited."
Kindly provide me the solution for the same.
Thanking in advance.
Message likes :
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04 June 2020
https://taxguru.in/income-tax/section-44ad-section-44ada-compulsory-maintain-books-accounts-section-44ab.html
https://taxdesign.in/what-is-section-44ad-a-presumptive-taxation-scheme/
https://taxdesign.in/what-is-section-44ad-a-presumptive-taxation-scheme/
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