Cpc notice u/s 139(9)

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 A partnership firm declared their income u/s 44AD and filed ITR 5 after entering the income details in Schedule BP of ITR 5 leaving Part A BS and PL blank. Now CPC ordered the return as defective due to blank BS and PL. If the assessee fill the P&L, instead of 44AD, then it is liable to pay interest u/s 234B and C. So how to sort out this issue..pls help expert..thanks..

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 November 2015 But in that case , have u marked in the no books of accounts ?

Given details of no maintenance of books of accounts ?

Nice Question.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 Answer "No" has been given against the Question "Are you liable to maintain books of accounts as per Section 44AA" in ITR 5

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 November 2015 Not that... its different ....

No books of accounts & u/s 44 AA are both different.

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 Thanks for your reply.. but I think there is no other question like whether books of accounts are maintained.. is there?

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 November 2015 let me find & inform u ... tom ok.

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 okay..thank you...........

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 November 2015 Below in balance sheet sheet there is option see it. IN Utility of excel below balance sheet.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 Sir..that i have tried..there we can give drs,crs, stock, cash etc...likewise when we fill P&L, we have to give gross receipts, GP, expenses, NP... If we fill this P&L summary, Interst u/s 234B and c will get attracted..

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 November 2015 but give cash stock etc... thats it....

This is to be given when no books of accounts has been maintained.

I Am not sure this will solve your issue.. but it might solve.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2015 Will try.. but CPC directed to fill P&L also..any way you have well supported to solve this issue by spending valuable time..thanks again...

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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27 November 2015 See entire P&L is not required to be filled since it is a case of no books of account u/s 44AD just fill gross receipts, GP, expenses and NP. Likewise in BS give cash, stock, debtors, creditors etc. Your NP should tally with income declared by your under PGBP head in computation part.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 November 2015 When we fill gross receipt, GP, expenses and NP, then the NP will automatically carried to Schedule BP as Profit before tax and hence we are liable to pay interest u/s 234B and 234C. Also, if we adopt this method of declaring income u/s 44AD, we have no option to indicate that we are declaring income under that section.