CA Arun Tiwari
(Partner)
(5955 Points)
Replied 05 December 2019
Firstly you have to clarify in which section you have filed return if you have received notice U/S 139 (9).
If the return filed under section 44AB then it’s a biggest fault ,because there is slab for getting audit if exceeds 1 cr . If this is the case then let the return defective and file the revised return .
However, If return is filed under section 44AD ,then its quite correct ,then reply the defective return by denying the liability or other default.
CA R SEETHARAMAN
(CA Practice )
(146027 Points)
Replied 05 December 2019
Notice will not specify that.
SAYED
(PROPRIETOR)
(38 Points)
Replied 27 March 2020
Hi Mr. Tiwari
Return ITR 3 filed u/s.139(4) for AY 2018-19. Return invalidated due to non response of notice u/s.139(9) followed by 2 reminders. Now return details is-
Directors' Remuneration 3.00Lacs
Rent less SD 30% is 44.78Lacs (from 3 properties)
Other Source 3.55Lacs
Business Income 0.11Lacs (30% of Gross Receipt 0.37Lacs)
Gross TI 51.44Lacs
Less: Dedn u/c. VI-A 1.90Lacs
TI 49.54Lacs
Now, defect mentioned is-
(1) Shown in PL 53(i)(aii) Gross Receipt (Business 0.37Lacs + Share of Profit 4.68Lacs) i.e.5.05Lacs
(2) Shown in PL 53(i)(d) Net Profit Rs.4.79Lacs
(3) Now shown in Sch.BP 5(a) Rs. 4.79Lacs and 36(i) Section 44AD Rs.0.11Lacs
(4) Defect arisen by CPC, since Gross Receipt in (1) above is 5.05Lacs and income u/s 44AD is 0.11Lacs as (3) above. The ratio of profitability comes below 8%.
(5) Since return is invalidated, which means no return has been filed by the assessee for that particular AY, now I got approval against condonation u/s.119(2)(b).
(6) What would be the filing status SECTION & FILING TYPE in ITR software.
CAclubindia
