ITR 3 arithmetical error Schedule BP

Tax queries 1288 views 11 replies

I have been served notice u/s 143(1)(a) posing arithmetical error resulting in variance.  I had claimed speculation loss in the ITR.  If any body has thoroughly glanced in to Schedule BP of ITR 3 PART A1 is the profit before tax as per PL act including speculation loss/profit. Next line 2a tells to fill speculation profit or loss (in negative).  Once you put figure here it directly autofills B40 and later B43.  If your figure is negative (means loss) it should not get deducted from the income but to be taken to 6xi of Schedule CFL. Now glance at PART D therebelow which is again auto summation of (A38+B43+C49).  Though this is summation it  has correctly  not taken speculation loss.  But now I have received notice giving narration  of Schedule BP and to correct arithmetical error.  ITR 3 program is correct but due to this summation (A38+B43+C49) CPC guys have sent notice.  This is happening with every assesee who has speculation loss.  Hence I humbly request learned members to revert with insights in this regarding whether my take is correct or what?

Replies (11)
What exactly is arithmatical error as noticed by CPC in ITR
You may mail to my id - pnkapadia @ gmail.com
Intimation and ITR 3 uploaded

@ Raghavendra Sir. What action have you taken against such notice?

I have received the same notice for speculation and have you received any resolution to this? 

Dear pavan

plz send notice copy to mail sgraghu2008 @ gmail.com

Dear Raghvendra sir,

I also got similar notice on arithmetical error.

How did you resolved the problem??

Dear All
Such notices were erroneously issued by CPC.

They have announced that those notices are to be ignored .

Fresh intimation 143(1)(a) are going to be issued.

So do not worry.
Dear Pravin Sir,

Thank you for the reply.
I checked on website regarding the announcement you mentioned.

Please provide me link for the same?
@ Kartik

Following type of emails are being sent by CPC ....
-------
Dear  Taxpayer,

Please refer to the intimation issued vide Document Identification Number. CPC/1920/G22/194382XXXX dated 19-OCT-19 PAN------------------- AY 2019-20 wherein intimation u/s 143(1)(a) has been incorrectly sent due to certain technical issues. We request you to ignore the said intimation and await for further communication in this regard.
Thank you Pravin Sir.
I am yet to receive mail, hopefully will get in something.
Thanks once again..

You are welcome 

 

My client got notice for  Adjustments u/s 143(1)(a) for Arithmetical error in the return-u/s 143(1)(a)(i)

In schedule BP, Sl.No.D. Income
chargeable under the head Profits and
gains from Business or Profession
(A.38+B.43+C.49) and the sum of amount
entered in Sl.No.A.38+B.43+C.49. are
inconsistent

Today i saw ITR3 , looks like software is not calculating properly. My client has speculative loss, 
but Sl.No.D. is not calculating correctly. Its not adding both 38+B.43. 


CCI Pro

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