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ITR-3 notice for AY 2019-20


rishabhsharma (Article Assistant)     09 October 2019

rishabhsharma
Article Assistant 
 3 likes  135 points

| My Other Post

Hello All,

we have received notice u/s 143(1)(a).

opening Stock of finished goods= 38970 shown in trading account.

Closing stock of finished goods= 34510 shown in trading account.

PBIT= 650637.

As per notice, deptt. is calculating PBIT of Rs. 655097.

Variance between PBIT= 4460. 

4460 is also the difference between op stock and closing stock as shown in trading account.

can someone please explain the reason behind notice.

 

Thank you. 

 

avater

Kamlesh Tolani (accountant)     09 October 2019

Kamlesh Tolani
accountant 
 15 likes  355 points

View Profile | My Other Post

ENTRY MISTAKEN IN INCOME TAX WHENEVER YOU ARE FILE RETURN

avater

Kapadia Pravin   09 October 2019

Kapadia Pravin

 915 likes  14283 points

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143(1)(a) intimation correspondence is for apparent error adjustment and hence you recheck your ITR3 once again.

If you think it is not correct then reply online eFiling portal as "Disagree' alongwith brief reason.

avater

CA Dhruva Kalamanji (Chartered Accountant )     09 October 2019

CA Dhruva Kalamanji
Chartered Accountant  
 89 likes  1879 points

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It's will be a mistake aparent on record so kibdly re check the itr 3

avater

Darshan Jain (CA)     10 October 2019

Darshan Jain
CA 
 3 likes  124 points

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Please check what is the amount of closing stock in Part A - BS or in case it is subjected to Tax Audit, check the entries in Clause 40 of 3CD. That may lead you to the possible difference. If everything is in sync, then this got to be a case study.. :)


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