Hi,
One of my friend got notice u/s 139(9) from Dept for availing 44AD (which is not available for agency business that he is doing). He declared 50% of gross receipts in the original return. Can a rectification return be filed with reduced income?
6 Replies
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 31 August 2018
If you agree to the Department's notice, then you file a return in response to the notice u/s 139(9)
Amgitha Aravindan
(Sr. Executive)
(54 Points)
Replied 31 August 2018
Can i file with reduced income?
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 31 August 2018
If you have maintained the books of accounts and had proof of incomes, then you can. If not you cannot reduce your income.
rama krishnan
(12244 Points)
Replied 01 September 2018
if your total income is less than 8% then you need to audit your books of accounts
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