Hello Friends,
Today I recd a mail i.e. Order U/S. 139 (9) of the Income Tax Act, 1961 from CPC treating Return filed as Invalid Return, Bengaluru for Assessment Year 2017-18, of one of my client, which is a Partnership Firm started from 14.3.2015.
For the year under consideration, there was a Gross Turnover of Rs.21.90 Lacs (Totally by Banking Mode) & thereby we offered Income U/S. 44AD @ 6% and paid S.A. Tax on 30.10.2017 i.e.date of filing of return of income.
By these mail, they say that you have not mentioned Gross Receipts as well as you have not filled columns under Balance Sheet & Profit n Loss Account as such. (Though both these columns and schedules were duly filled and visible).
If I say, Revised Return or Return filed in response to Notice U/S.139(9), then Interest of Rs.6000/- appears as payable.(Although whole of the S.A.was duly payable before filing of return of income.
Now, how to reply to this notice ?
T & R
K P Bhanushali
CAclubindia
