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

ITR 823 views 10 replies

HR CONSULT

CONSULTANT

14 Points Joined May 2019

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

Replies (10)

CA. Sourav Sarkar

Chartered Accountant

24588 Points Joined November 2019

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

177 Points Joined June 2018

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 Joined July 2012

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

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.