Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

ITR 3 issues in the new portal

Financepie (other) (76 Points)

01 September 2021

Hello everyone,

I am trying to file ITR 3 in the new Efiling portal ...the income is less than taxable threshold and there is a significant loss in Business.

When i try to submit the ITR i get the following error. But since income is below 2.5 lakh Tax Audit is not required...Is this correct? I have filled P&L / Balance sheet. But still getting the following error. Pl help

S.No.	Error Descripttion	Suggestion
1.	Tax Payer has claimed loss under the head “Profits and gains of Business or Profession”/No account Case section(Part B) of Profit & Loss A/c; however, he has not filled the Part A - Balance Sheet and Part A - Profit and Loss Account and has not got the books of account audited.

Reply
Follow
Share

14 Replies

Chetz Rao (114 Points)
Replied 01 September 2021

1.tax audit is applicable if turnover is more than 1cr(for services turnover reduced to 50 L)
2. If you are applying presemptive taxation scheme under 44AD/44ADA , if your income is less than, 8%or 6% wherever applicable then you are liable to audit under 44AB

Upgrade to CAclubindia Pro. Subscribe Now!

Financepie (other) (76 Points)
Replied 01 September 2021

Turnover is only 2 lakh and loss is 9 lakh and we have not opted for presumptive taxation...Yet getting this error.

Chetz Rao (114 Points)
Replied 01 September 2021

I guess you have to refresh it

Financepie (other) (76 Points)
Replied 01 September 2021

Nope , doesn't work ...I have tried multiple times still facing the same issue...Can some one shed some light on how to resolve the issue.

Chetz Rao (114 Points)
Replied 01 September 2021

Bro even I tried like that I didn't get any error like that , so I thought it may some mistake from your side while selecting any option in portal

Upgrade to CAclubindia Pro. Subscribe Now!

Zackir (Owner) (26 Points)
Replied 05 September 2021

ITR 3 filing error. I have unabsorbed depreciation Rs 1.65 lakhs for AY 2021-22. Turnover is Rs 12 lakhs only. So audit not required

I'm not subjected to mandatory audit under any of the sections in IT Act While uploading the return, validation process returns an error "Taxpayer has claimed loss under the head "profits and gains of business or profession"/No accounts case section (Part B) of Profit & Loss Account, however he has not filled the Part A - Balance Sheet and Part A - Profit & Loss Account and has not got the books of account audited.

I have checked "No" against the question whether required to audit under section 44AA in the audit information and have also already filled in Part A - Balance Sheet and Part A - Profit & Loss Account...but still getting the error