ITR 3 asking for audit info even though audit is not applicable

ITR 5046 views 7 replies

Karan

65 Points Joined February 2009

I am getting following error after validation successful in ITR 3
Category of defect B/D :You will be allowed to upload the return. There is a possible defect present in the return or some of the deduction/claim may not be allowed.
Error Descripttion Suggestion
1. You have claimed income less than 8% of Gross Turnover and audit information is not filled up Kindly fill up the audit information since you have claimed income less than 8% of Gross Turnover

Income Details
Business Stock Trading
Turnover 33 lakhs
Profit 60,000

LTCG (Shares) 8,000
STCG (Other Assets) 1.25 Lakhs
Exempt Income 20,000
Total Income 2.13 Lakhs
Taxable Income 1.93 Lakhs

If income is lower than taxable limit of 2.5 lakhs, audit clause u/s 44AB or 44AD is not applicable. I don't even have liability to file ITR, audit is also not applicable. But wanted to do so to avoid any notice from ITO later on.
Any thoughts on this are welcome.

Replies (7)

Mahesh Shah

2355 Points Joined July 2017

I am trying to file itr 2 for 22/23 since past 4 days
after verification....i am getting schema error....try again later
can anyone guide me on above issue
on raising grivence ...cpc says update Microsoft......do not copy paste....do not use special characters
please guide me/ help .....if possible
thx

deep1976

propreitor

299 Points Joined June 2012

sir i am trying from last one month validation error schema error coming creditors side banalnce sheet me add ho rahe ,,koi seventh provision ka error aa jaata joh ki eligible hee nahi..i have filed all returns using this utility but itr 3 file nahi hota

CA Rashmi Gandhi

Chartered Accountant

86505 Points Joined April 2011

You need to declare minimum 6% profit on your share trading i.e 198000(33 lakhs *6%)

If you do not want to declare then tax audit applicable for you.

Better to consult some CA.

vish k

12 Points Joined September 2018

It is a system flow. I got the same error last year for which I filed the CPGRAM complaint also to no avail, so I filed a return as is and it is accepted without any scrutiny. I eve got the refund due to me. The irony is that the same error is coming this year also! It is a system flow and I am planning to file it the same way I did last year also.

Bharat Gera

2 Points Joined July 2022

HEY? how you sorted this. Even i'm getting the same error

Viral T

3 Points Joined July 2022

Hi Rashmi,

In my case total turnover from option trading is 1.35 lakh and loss is 3391... I am also getting the same warning message while my total income is non taxable and coming under senior citizen category...

I have updated F&O buy/sell value in Part A Trading account section... Please suggest...

Prajjwal

422 Points Joined December 2017

category of defect b/d :you will be allowed to upload the return. there is a possible defect present in the return or some of the deduction/claim may not be allowed.

The message indicates that if you have a "category of defect b/d", you can still upload your return. However, there might be an issue within the return or certain deductions/claims that might not be permitted or accepted. In other words, you're allowed to submit the return, but it's possible that there are errors or discrepancies in the return that could affect the approval of certain deductions or claims.