ICICI

RECEIVED NOTICE U/S 139(9)


akshay jaiswal (associate)     15 November 2019

akshay jaiswal
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Dear sir

I filed my ITR with turnover above 1 CR. and show profit more than 10% now I received notice of defective return and they say to file audit report

Now I don't understand why I need to audit my account when threshold limit for audit is 2 CR. for ay 2019-20

I filed my itr in form ITR3 if they need because of this then what should I do now

please help ASAP

Thanks

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Kapadia Pravin   15 November 2019

Kapadia Pravin

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Notice is rightly received.

The tax audit turnover limit is 1 crore only under 44AB

The 2 crore turnover limit (without audit) us when you opt for presumptive section 44AD for business income.

How have you declared profit in ITR3 ?
as regular business income or under iitem 61 in , I think, for 44AD

If you not chosen 44AD then tax audit is most and now huge penalty will also have to be paid for failure to carry out and submit tax audit report.

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akshay jaiswal (associate)     15 November 2019

akshay jaiswal
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Can I revised my itr and now I file it under itr 4 under 44ad ??

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Kapadia Pravin   15 November 2019

Kapadia Pravin

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No,  you can not now choose 44AD. That right you have to exercise at the filing if original return.

Now carry out audit, file audited accounts, file revised return and face penalty and interest both.

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sabyasachi mukherjee   15 November 2019

sabyasachi mukherjee

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Mr.Jaiswal
you hv chosen itr3 .
you hv received a defective return .



ok. you hv chosen itr 3.
the following needs to be cleared first.



either any schedule in the form is not applicable in the case of an assesse .
if any item is in applicable one should write "
NA".
NO COLUMN SHOULD BE LEFT BLANK.
HAVE U PAID THE TAX IN ACCORDANCE WITH SECTION 140A BEFORE THE DUE DATE.


under section 139(9) a few statements reports proof or pre paid taxes and return of income should accompany your return.
So Mr.Jaiswal may I know which has happened.
pls mail your details at sabyasachimukherjee7098 @ gmail.com....

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Kapadia Pravin   15 November 2019

Kapadia Pravin

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Again a very good blunder.  G8 sanyasachi 

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CA R SEETHARAMAN (CA Practice )     18 November 2019

CA R SEETHARAMAN
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Don't respond to notice 139(9) let the return rejected as defective then opt 44AD and file ITR 4 if you can excercise option u/s 44AD.

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sabyasachi mukherjee   18 November 2019

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@ setharaman
why itr 4 pls clarify?

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CA R SEETHARAMAN (CA Practice )     18 November 2019

CA R SEETHARAMAN
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ITR 4 no tax audit applicable upto 2 crore turnover and declaring more than 8% profit. Penalty only 5000 for late filing.

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sabyasachi mukherjee   19 November 2019

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But here does Sec 139(9) notice specify that....


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