Dear Sir,

Private Limited Company has been incorporated on 01/03/2012. Company has file its IT return without profit & loss figure. But notice u/s 139(9) received from Deptt. Now how to file response in reply to deptt Querry.

Sir,

Even I have received same notice with error codes 14 & 23.

As said in earlier comments, audit in case of F&O trading, my query is on what basis do we say it is covered under audit? what is the turnover on which 8% should be declared? As in case of tax audit, if profit & loss(absolute value) crosses the audit limit, say 1Cr, only than it is covered under 44AB. Again if we are considering the turnover, than I have come across many clients whose turnover crosses 1Cr but their profit/loss (net) is not more than 10000/-, so here in this case their turnover is more than Rs. 1Cr, but absolute value of p/l is less than 1Cr. so nor they are covered in 44AB nor 44AD as turnover more than 1Cr.?

Pls guide what should be done in such case??

Thanks

A taxpayer filed an ITR in the month of June-18 for AY 2018-19 which was processed by the I.T. in the month of July-18 and issued a notice u/s 139(9) [declaring the ITR as defective].  Taxpayer received that notice on 01/08/18.  Now, the date of e-filing for AY 2018-19 has been extended upto 31/08/2018.

Can the above taxpayer file a Revised ITR by ignoring the above Notice u/s 139(9) ?

[Last date for e-filing of ITR for the AY 2018-19 is 31/08/2018]

Any advice?

You must revise your return addressing the defects the Income Tax Department has pointed out within 15 days from the receipt of intimation order under section 139(9).

1. On the income tax return, select the option “In response to a notice under Section 139(9) where the original return filed was a defective return.

2. Enter the communication reference number, available on the notice, and acknowledgment number and date of filing original return.

3. Complete the income tax return like you normally would.

4. Generate the XML File and upload it to the Income Tax Department website

5. Select “e-File in response to notice u/s 139(9)” under the “e-File” section and upload the rectified XML using the password mentioned in the notice.

@  SHIRISH S S
 

Originally posted by : SHIRISH S S
	You must revise your return addressing the defects the Income Tax Department has pointed out within 15 days from the receipt of intimation order under section 139(9). 1. On the income tax return, select the option “In response to a notice under Section 139(9) where the original return filed was a defective return. 2. Enter the communication reference number, available on the notice, and acknowledgment number and date of filing original return. 3. Complete the income tax return like you normally would. 4. Generate the XML File and upload it to the Income Tax Department website 5. Select “e-File in response to notice u/s 139(9)” under the “e-File” section and upload the rectified XML using the password mentioned in the notice.

Thank you Sir.

Earlier no notice was listed there under that Menu.  However, after receiving your reply, I checked once again and found it. I think they took some time to update the ITR details in their website. Thank you very much for your prompt and effective advice.

Regards,