Dear SIr,
I have income from Legal profession, very minor income from speculative business ( Intra day trading Rs 250) and negative income in Capital Gains.
I have filed my ITR3 under sec 44 ADA for income of Rs 410000 ( Rs Four Lac ten thousand only). However on filing ITR i am getting a system generated email saying that since my income from business/ profession is more than Rs 1.20 lacs, i have to fill details in Balance sheet/ P&L account. Since my receipts are under Rs 50 lacs I am not required to maintain the books of accounts under sec 44ADA, I do not understand why I am getting this email. I have checked the ITR and correct columns have been filled. Income is reflected in column 62 as required.
speaking to IT helpline did not provide any satisfactory answers.
Can anyone guide me on why i am getting this email and what Should I do now. Screenshot of email is attached
Thanking in advance.
CAclubindia
