I have received a notice u/s 139(9) stating the probable reasons for the defects in the return filed (of a partnership firm), the return filed does not exceed the limit specified u/s 44AB (i.e. 1 crore in case of a business) yet the notice states that the following points as follows :
1. Where assessee furnish total of amount deducted in Sl.no.2,3,4 and 5 of Schedule BP should be
consistent with Total credits in the P and L Slno.5
2. Assessee has claimed loss under the head “Profits and gains of Business or Profession”; however,
he has not filled Balance Sheet and Profit and Loss Account and has not got the books of account
audited
3. Assessee entering negative amount in gross profit or net profit.
but my doubt is when it was my loss return of a partnership firm and also the requirement for audit is not applicable then is it a mandate to furnish P & L and balance sheet ? and what could be the possible solution to this notice? Please help !
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