Notice u/s 139 (9) error 86
Querist : Anonymous
As per Section 44AD(6) of the Income Tax Act, 1961, the provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying on any agency business.As seen from the return of income filed, the nature of business code mentioned is 00301 General commission Agents, which falls in the categories mentioned above. Hence, the provisions of Sec.44AD are not applicable, in your case.
Possible resolution: As the provisions of Section 44AD are not applicable, in your case, the claim of computing profits and gains of business on presumptive basis, under this special provision is not allowable. Hence, the above defect has to be corrected by way of computing the profits and gains of business under the normal provisions and not under Sec.44AD and offering the same.
I am a post office agent so put 0301-General Commission Agents.
I DID THE SAME FILLING FOR LAST YEAR BUT DID'NT FACE THIS PROBLEM....
Please help and suggest what should I do.
Querist : Anonymous
If last year it has been allowed does not give you any right that it should be allowed this year as well....
Querist : Anonymous
PLS TELL ME WHAT CAN I DO.....NOW....
Querist : Anonymous
OR
BY computing the profits and gains of business under the normal provisions i still get my return back
pls reply
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