ONE OF MY ASSESSEE I FILED RETURN U/S 44AD. BUT WRONGLY IT IS LESS THAN BY 8%. IT IS APPROX. 7.81%. CPC BANGLORE ISSUED 139(9).CAN THIS RETURN WILL BE RECTIFIED. IF NOT WHAT ARE THE REMEDIES FOR IT.
29 December 2013
it is not to be rectified. You need to refile the return and claim 8% profit. If any tax is payable, then pay it and accordingly add the challan details in the return.