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
Business Stock Trading
Turnover 33 lakhs
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.