31 May 2019
This is the error Defect:- Total Value of "Total Revenue from operations" and "Gross receipts"in P & L should be greater than or Equal to income u/s 44ADA in Schedule BP
Impact Income Tax Return may be treated as defective if assesse shows income under presumtive scheme basis without filing gross receipts or total sales fields in profit and loss account
Suggested resolution Please ensure that "Total Revenue from operations" and "Gross receipts" in P & L should be greater than or Equal to sum of income u/s 44ADA in Schedule BP
Have entered in P&L under sec 44ADA---Gross receipts -Rs 420937 and premuptive income u/s 44ADA as 399000. In schedule BP amounts are autopopulated. Dont understand the error and resolution . Pls help
CAclubindia
