Respected Sir,
I have filed income tax return ITR4 assessment year 2016-17 but income tax department send a notice u/s 139(9) error 31 for fill debtors,creditors and stock in trade.kindly suggest how reply.Return is under NO Account Case and profit is also above 8%.Kindly suggest.Can i fill nil figure.KIndly help i will be very thankful to you.
Even in no account case the above details are necessary to submit ,Any business must have at least information about these things whether it maintains proper account or not.If at 31st march the calculation has not been done you can take average and fill it.
Showing everything nil means you did not have creditors/debtors/stock/cash in hand at 31st March seems not to be true.
Respected Sir,
Thanks for reply.One another thing if i shows debtors nil,creditors nil stock 40000/- and cash in hand 46785/- that will be true.Figures may be vary according to return.
Ya true it can happen that you have realised money from your debtors and there is no debtor any more at a particular date and You have paid all your dues and there is no creditor at a paticulat date.Other things are ok.
Respected Sir,
Thankyou.
CAclubindia
