Error code 86 of itr
This query is : Resolved
27 February 2018
I filed ITR in July 2017 and right now I got notice from income tax that ITR ir defective & shows error code "86". I was selected nature of Busines 0301 commission agent. I select this every ITR but received any notice. Right now I got notice u/s 139(9). I am an Medical Representative (M.R) and apart from this also getting commission for sale of product. Give your suggestion how to handle this and how to fix issue? I need to change nature of business (business code) / change my commission from 44AD to other source income / which Income code comes under this. As the notice shows probable solution that "The above defect has to be corrected by way of computing the profits and gains of business under the normal provisions and not under Sec.44AD and offering the same".
Please advise me.
Thank you
Please advise me.
Thank you
28 February 2018
Ate You filed u/s 44ad?
And chose the code of 0301-commission agent?...
28 February 2018
commission income is not covered 44AD. If you are in the business of being an commission agent, kindly file the return as per the provisions of section 44AA.
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