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Hi i am Full time pvt employee and Part time Insurance Agent, I submited ITR-4 for AY-2016-17,but ITR-4S for previous years.
IT-Depart ment thrown an error 31 the descripttion is in the below. plz help me.
Error Discripttion
Taxpayer having income under the head “Profits and gains of Business or Profession” but has not filled Balance Sheet and Profit and Loss Account as required in explanation (f) under section 139(9) read with section 44AA.
Prababuly resolution
The Part B of the Profit and loss account and Part B of the Balance Sheet (i.e No Account Case Section) should be entered in the corrected return without which the return filed earlier is liable to be treated as invalid.
I recieved the same notice with same resolution.
I now have put some cash in hand value so it is not zero and submitted the return. Let's see what happens. This is second time they have given me this notice now in the same year.
My revised ITR just got processed without any tax. You just have to put in some cash in hand or any or all of the values of Part B of BS and PL. All the values must NOT be zero.
I think their software is designed to take all zero values as not filled.
So I just put in some cash in hand and my ITR got processed.
Hi Gaurav -
Even i got second notice. But my ITR status says "Processed" based on the inputs provided for 139(9) first defective return.
First time, i entered some value for "Amount of the cash balance" and for others such as Amount of total sundry debtors , Amount of total sundry creditors
Amount of total stock-in-trade as null/empty.
Do you want me to enter values for other columns as well ?
Thanks.
No only cash in hand value is sufficient. Others can be kept 0
thanks gaurav. Actually, i left as "blank" during first defect return submit. Let me give "0" for other 3 columns.
hope it will resolve the problem.
Wrong on part of Income Tax Department. Assessee who is Trader showing Presumptive income and having agricaltural or Capital Gain income have to file return ITR 4 Instead of ITR4S. Though showing same as Non Account Maintainence and U/s 44AD in BP Schedule Noices are served. Just Disagree and Write the same in Remarl Coloum.
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