I have a friend who has a partnership firm and I help with his taxes etc.
This year, we decided to opt for 44AD and filed the ITR4 accordingly.
Today the 143(1) came back - all good, no demand no refund and all figures we provided in the ITR were accepted, so no issues there.
But, the first line item of Taxation Option, it says Opted for 115BAC.
We did not opt for this 115BAC. And as far as I know, a Firm is not eligible to opt for it anyway.
Should we just ignore it? Or something to ask for clarification / revision?
CAclubindia
