I have filled return in Itr3 under 44 AB with turnover over 1 cr and net profit more than 9 percent but audit not done and I also having income from sell of mutual fund that is short term capital gain . now I received notice under section 139(9) to do audit and file return again.
what should I do?
can I rectify return and revise under 44 AD
PLZ SUGGEST
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Rectification with itr form change
Replies (1)
You may file revised return ITR3 and show business income under 44AD . If it goes through, you are lucky .
However as per tax provisions, you are required to opt 44AD at the time of filing original return.
You must have, I suppose, selected 44AB in ITR.
File revised return keeping in mind above. Discuss with your tax consultant about this in detail. File before date as per Notice.
However as per tax provisions, you are required to opt 44AD at the time of filing original return.
You must have, I suppose, selected 44AB in ITR.
File revised return keeping in mind above. Discuss with your tax consultant about this in detail. File before date as per Notice.
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