Notice u/s. 139(9)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2013 I have loss from Speculation (In Shares without Delivery). I have sold Price Rs. 612606/- and Purchase Price Rs. 616644/-.
I have shown this loss in Business Income as (Speculation Loss). I have filled in P & L Account in the column as in a case where regular books of account of business are not maintained. e.g. Gross Receipt 612606/- and Expenses Rs. 616644/-.

In this regard I have received the above notice, Error Description Annexure A (26 & 14)
Now I want to know how to fill in proper column.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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29 December 2013 Which ITR you filed is missing without that it will be difficult to mention but you should have shown as income from Business. In ITR IV you can go to this page as given below

Schedule BP Computation of income from business or profession
INCOME FROM BUSINESS OR PROFESSION A From business or profession other than speculative business or specified business
1 Profit before tax as per profit and loss account (item 43 or item 51d of Part A-P&L ) 1 0
2i Net profit or loss from speculative business included in 1 (Enter -ve sign in case of loss)