Error Description : Taxpayer having income under the head “Profits and gains of Business or Profession” but has not filled Balance Sheet and Profit and Loss Account as required in explanation (d) under section139(9) read with section 44AA.
Probable resolution The Part A of the Profit and loss account and Part A of the Balance Sheet should be entered in the corrected return without which the return filed earlier is liable to be treated as invalid.
Kindly help us how to rectify above mentioned details.
we received a notice fy 2015 - 16
My turnover was less than 1 crore, ITR - 4 i mentioned No account case Part A - P&L A/c point no.53 (books of account of business or profession not maintained).
03 November 2017
Thank you very much. Even i have some more query, original return i filed ITR 4, now you suggest to file ITR 4S. Can i get any problem in future.
CAclubindia
