Urgent help 143 1 a notice received

Sameer S (CS) (2 Points)

07 August 2018  

 

I used to file ITR 4S for my relative since previous in  4S there was no separate column to declare turnover from the profession, I used to declare consolidated turnover in a single column which was designated as turnover u/s 44AD and I used to declare 25 % profit on turnover

Now previous year, also I followed the same procedure, after which AO initially sent an email to me which stated that there is a disparency in my ITR as in 26AS TDS is deducted for professional fees but I have not declared any professional fees in ITR, after which I closely studied ITR 4 of 17-18 and realized that in the ITR form 4 17-18 there is a special column for  Presumptive income under 44ADA (Profession) in which I had not filled in anything

Now I have got email notice u/s 143 1 a and I have been asked in e proceedings to submit my reply to the proposed addition of income by AO since as per 26AS 86000 were my Gross receipts from profession which I didn't mention in the column Also, it is expected that I should revise my return

my question is should I reduce receipts from Trading and add it in professional receipts  which is actually more than 86000 (around 400000 lakhs)  so what should I do

option 1
 add 86000 as professional receipts, keep trading gross receipts unchanged at 24 lakhs

option 2

 add 400000 as professional receipts, change trading gross receipts to 20 lakhs

 

option 3

Visit  AO officer (may involve risk as my case may be highlighted before him)

 

option 4

you suggest please if any other option