Error 31 indefective return notice.tax payer having income under profit and loss but b/s is not filled as reqd u/s 139(9)(d)

how to correct error 31 defective return . which coloumn to fill in balancesheet sources of funds and application of funds. income consists of salary and professional fees. NPAT 247107 rupees.
Replies (3)

".........income consists of salary and professional fees. NPAT 247107 rupees."

As income consists of Professional fees, you are required to file BS & P&L account.

Prepare ITR4 with said details, generate XML. file & upload u/s. 139(9).

I have prepared itr 4 and filled p& l  but m confused as to which row i should fill in sources of funds and application of funds of b/ s ? Will it b ok if i fill proprietors fund and then in application of fund as cash and bank balance.? 

As such the final balances as on the end of the year of business are filled in BS schedule. Sources of fund is liability side which includes your capital invested, loans, creditors etc., while application of funds is the asset side of the BS, which includes fixed assets, investment current loans, debtors and cash & bank balances. If you don't have any other data to fill, just three figures as suggested would be OK. But check any investment in laptop, mobile, printer etc. used for the profession.

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