Return is defective

Absolutely right. This is delaying tactics. Has anyone submitted a grievance and received a response for this? It could help many people.

(i) As per Section 44AA of the Income Tax Act, if the ‘net income’ of an ‘individual’ from business or profession exceeds two lakh fifty thousand rupees or the total sales, turnover or gross receipts, as the case may be, in business or profession exceeds twenty five lakh rupees in the previous year only then ‘Books of Accounts’ needs to be maintained.

In your case, the net income reported is more than Rs two lakh fifty thousand, so Section 44AA is attracted.

(ii) Since your profession is not included in the ‘list of eligible professions’ given under Section 44AA and 44ADA, you cannot go for presumptive taxation under Section 44ADA.

(iii) Response to the notice which needs to be given within 15 days may be given accordingly. You might have to file a revised return with the PL and BS data within the due date. Tax payable if any needs to be paid before filing the return.

Originally posted by : Anjan Roy
	(i) As per Section 44AA of the Income Tax Act, if the ‘net income’ of an ‘individual’ from business or profession exceeds two lakh fifty thousand rupees or the total sales, turnover or gross receipts, as the case may be, in business or profession exceeds twenty five lakh rupees in the previous year only then ‘Books of Accounts’ needs to be maintained. In your case, the net income reported is more than Rs two lakh fifty thousand, so Section 44AA is attracted. (ii) Since your profession is not included in the ‘list of eligible professions’ given under Section 44AA and 44ADA, you cannot go for presumptive taxation under Section 44ADA. (iii) Response to the notice which needs to be given within 15 days may be given accordingly. You might have to file a revised return with the PL and BS data within the due date. Tax payable if any needs to be paid before filing the return.

Thank you. I will do the same.

file your return under presumptive incomes, fill details in 44ad-business (point 61/62/63) in P&L Tab.

in P&L tab remove details from accounts not maintained schedule