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RESPONSE TO NOTICE U/S 139(9) where as income is shown in no account case

HR CONSULT (CONSULTANT) (9 Points)

09 May 2021  

INCOME WAS MENTIONED IN THE SR NO  64 OF ITR AY 2020-21 IF REGULAR BOOKS OF ACCOUNT OF BUSINESS OR PROFESSION ARE NOT MAINTAINED, furnish the following information for previous year

 

NOW I HAVE RECEIVED A NOTIVE UNDER SECTION 139(9) SAYING 

Taxpayer is offering Income under the head Profits and gains from Business or Profession. Hence, as per the provisions of Sec.44AA, the taxpayer is required to maintain books of accounts. However, as seen from the return, the taxpayer has not filled up Part A of the Profit and Loss Account and Balance Sheet. Further, income from business has not been offered under presumptive taxation, if eligible.

What should i do now


 10 Replies

Sourav (Student) (23892 Points)
Replied 09 May 2021

Notice u/s 139(9) is issued when return is found defective and a period of 15 days is provided to the assessee to resolve the same, however if assessee fails to do so, the return is considered as defective and treated as return has never been filed.

File a revised return

Raghavendra Kamath (143 Points)
Replied 09 May 2021

Every out of 10 have received this notice. When 44AA is not applicable, p &l and balance sheet is not mandatory. It is a system glitch. CPC needs to trouble shoot it. I have raised a grievance and you too. don't be hurry to find RR

VISWANATHAN (ACCOUNTANT) (66 Points)
Replied 10 May 2021

I have also received notice us 139(9) with the reason and probable resolution for the same as mentioned below.

How to rectify it?

Reason
 
Probable Resolution
 
 
  Taxpayer is offering Income under the head Profits and gains from Business or Profession. Hence, as per the provisions of Sec.44AA, the taxpayer is required to maintain books of accounts. However, as seen from the return, the taxpayer has not filled up Part A of the Profit and Loss Account and Balance Sheet. Further, income from business has not been offered under presumptive taxation, if eligible.  
 
The Part A of the Profit and loss account and Part A of the Balance Sheet should be entered in the corrected return without which the return filed earlier is liable to be treated as invalid. Please note that if the defect is not addressed with-in the time allowed, your return of income will be treated as invalid.

salary return (10 Points)
Replied 11 May 2021

Hi all

is there any Resolution.

Mr. Raghavendra Kamath any received grievance

 

salary return (10 Points)
Replied 11 May 2021

Raghavendra Kamath (143 Points)
Replied 11 May 2021

Not yet. eagerly waiting. but they will not revert. alternative option is to file revised u/s 44ad

salary return (10 Points)
Replied 11 May 2021

commission agent we can not filled 44ad 

Raghavendra Kamath (143 Points)
Replied 11 May 2021

Don't mention business code. previously I have tried and got return for my client.

salary return (10 Points)
Replied 11 May 2021

we had 50+ return defective and notice received  what can i do ...... 

salary return (10 Points)
Replied 17 May 2021


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