02 November 2017
AY 17-18
Income details: STCG us 111A approx 35000
F&O - business - turnover Rs., 75000.. Income shown @8% us 44AD Rs. 6000
Other income : interest etc Rs. 3 L +
For presumptive income ITR 4 is applicable but as there was STCG also... ITR 4 became not applicable and ITR 3 used.
P&L schedule - blank... But below section which says 'no accounts case' we mentioned Turnover Rs. 75k and gross and net profit Rs. 6k (8 %)
Nature of business - Trading others.
139 9 notice says.. Turnover not mentioned in P&L.... Or profit declared is less than 6 %..
Pls guide.
01 October 2021
The turnover need to be declared when 8% declared over it, in presumptive assessment. Declare it under 'Total Receipts' column. File revised return u/s. 139(9).
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