Sec 44AD
This query is : Resolved
CA Ankita Sankhala
(Querist)
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 :
1 times
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/
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Capital Gains Tax on Inherited Mutual Fund
- TDS- 2026-27 Q1 Correction
- Gift to nri relatives residing in usa
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
