Section 44ad
This query is : Resolved
CA Ejal Shah
(Querist)
24 March 2014
I filed a return of partnership firm whch had opted for section 44ad. However some how i forgot to mention in pgbp schedule the figure of profit from sec 44ad. n the utility calculated the interest under sec 234 b and c which i changed to zero as if the assessee opts for 44ad he does not rquire to pay advance tax and so no interest under sec 234 b n c is to be paid. and then filed up the return. now if the A.O sends me a demand of tax charging interest under sec 234 b and c then what is the recourse available to me? plz note the return is filed u/s 139(4) so cannot revise it. n all profits belong to business opting for 44ad. Plz reply at the earliest
24 March 2014
you can still rectify the return u/s 154.
CA Ejal Shah
(Querist)
25 March 2014
ok thanks... but that would be possible only after receiving the intimation under section 143
Nikhil Kaushik
(Expert)
26 March 2014
Ejal..you cannot do anything till 143(1) intimation. so relax till then
26 March 2014
Manual rectification request can be filed u/s 154.
CA Ejal Shah
(Querist)
26 March 2014
Thanks Nikhil Kaushik sir n Tushar Sampat
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