ITR 3 filing error
This query is : Resolved
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
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
25 July 2024
What amount is appearing in column 62i & 62ii of Schedule P & L?
25 July 2024
62i-Rs.nine lakh 75 thousand
62ii-Rs.4,90,000
62ii-Rs.4,90,000
25 July 2024
Hope there is no data included in Sr. no. 61
25 July 2024
what data should be added?
25 July 2024
No data to be added there. As there is error I had to enquire.
"" 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 ....."
This part has been correct........... so why this massage?
Retry filling ITR.......
"" 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 ....."
This part has been correct........... so why this massage?
Retry filling ITR.......
25 July 2024
i retried several times.. everytime same error message is popping up
25 July 2024
sir now it got resolved. i dont know how.. now i showed the income under 44ad instead of 44ada. then it got validated without any error.
25 July 2024
But whether sec, 44AD is applicable to you? It is not an alternative for Sec. 44AD ...
25 July 2024
yeah it is .. because its freelancing educational services ,like teaching of artworks,crafts, so it can be shown as business income too right. i choose the "other educational services " option as the business category
25 July 2024
Seems all right......
25 July 2024
yeah.. thank you sir for the response..
25 July 2024
You are welcome.
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