WRONG DESCRIPANCIES REPORTED BY AO IN MOST OF CASES
This query is : Resolved
11 September 2021
We are receiving Notices about discrepancies by I T Deptt For AY 2020-21 Some of Discrepancies
are as under
1. Interest on FDR not Credited in PL A/c while it has been taken in Capital A/c of Assessee and taken under Income From Other Sources Capital Account has already been attached with Audited Balance Sheet
2. Interest on PPF Account not credited in PL Account while it is claimed as exempted and taken under Capital Account as well
How I can submit Response
are as under
1. Interest on FDR not Credited in PL A/c while it has been taken in Capital A/c of Assessee and taken under Income From Other Sources Capital Account has already been attached with Audited Balance Sheet
2. Interest on PPF Account not credited in PL Account while it is claimed as exempted and taken under Capital Account as well
How I can submit Response
CA R SEETHARAMAN
(Expert)
12 September 2021
Reply, as for such items there is no need for credited in p and l account and rightly shown in ITR.
It may be due to computer generated notice.
It may be due to computer generated notice.
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