25 July 2024
Dear Sir, Could you please help me to resolve the error which pop up while validating the ITR 3 in which i am declaring the presumptive income u/s 44ADA and short term capital gain u/s 111A. the error message popped up was
"Income under business and profession is claimed but gross receipts are not mentioned in profit and loss account. OR Profit shown is less than 50% of gross receipts but details of maintenance of the books of accounts and audit report u/s 44AB in Part A-General are not filled up." I have shown gross receipts in presumptive income section 61 onwards and shown income more than 50%. Any one has any idea. Thanks
CAclubindia
