my uncle has small grocery shop and he has filled itr 4 for a.y year 16-17 with non account case and show previous year gross receipt , gross profit, expenses and net profit as he does not maintain any books ...he has also claimed tds refund of fd bank interest of rs.2000...
he got notice from it deparment u/s 139(9) that his return is invalid and he must submit P/L & B/S in response of defective return ...
please suggest how can i proceed ...
Maintenance of books of accounts mandatory as per section 44AA if
If the Income from Business or Profession exceeds Rs. 1,20,000 or the Total Sales/ Turnover/ Gross Receipts exceeds Rs. 10,00,000 in any of the previous 3 years. These limits have been increased to Rs. 1,50,000 and Rs. 25,00,000 respectively from Financial Year 2017-18 onwards. (Announcement made in Budget 2017)If the Business or Profession is newly set-up, it would be required to maintain books of Accounts if the income from business or profession is likely to exceed the limits mentioned above.
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