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Commission/Agency business without Books books

03 March 2020

I Filed Income Tax Retrun Under section 139(4) for A.Y 2019-20 in form of ITR-3 (Business Nature-Special Business-Agency / Commission Business Without books) but i got notice under section 139(9) ,in notice they have mentioned that taxpayer having business income under the heads profits and gains from business or profession but has not filed balance sheet and profit and loss account as required in explanation (d) under section 139(9) read with section 44AA.

but i have replied to nitoce that 44AB and 44AA ,44AA(1) is not applicable to me after that they have send me again notice under section 139(9) with same reason.

please let me know what should i do now?

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9 Replies

Kapadia Pravin (17249 Points)
Replied 03 March 2020

Those sections are applicable. Prepare book of accounts and then PandL and Balance Sheet and then properly file revised return before end of this month that is by 31st March 2020.

The notice is in line with income tax provisions. Presumptive taxation without books of accounts under 44AD is not available to Assessee having commission income.

1 Like

AJAY BABAN NAVALE (Student) (54 Points)
Replied 03 March 2020

hello pravin sir,

i have filed same kind of return for another assessee whose doing same kind of business...and that all are processed without profit and balance sheet.

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sabyasachi mukherjee (25979 Points)
Replied 03 March 2020

Navale

Sec
139(9) is a defective return .
Defective return arises when all items whichever itr form you submit any schedule of the itr form .
should be scored as inapplicable or nil as circumstances or proof of documents should be retained and should be produced to the AO when ask for.

But what does the return says that is pertinent.
Now let's discuss about Sec 44AA.
44AA SPECIFIES MAINTAINING BOOKS OF ACCOUNTS for certain classes of assesse.

please get in touch with AO and rectify the defective return or produce necessary documents if required.

Kapadia Pravin (17249 Points)
Replied 03 March 2020

It's not possible.
May be due to any technical error in processing or may be due to luck favouring .

Accounts P&L BS are must and without that ITR is defective. File revised return immediately.

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What the chap of above post is writing ??
Can anyone explain ?
What for meeting AO ??
isn't post meaningless ??
CPC issues 139(9) notice. ITR doesn't go to AO office.