Notice for defect u/s139(9) error code 311
I have received a notice from department stating that there is defect in the ITR filed for AY16-17. I have filed ITR-4 being a tuition teacher (Nature of Business 0607-Professionals Others). Point number 53 of P&L (No account case) filled with Gross Receipt 282000 & Net Profit as 258824. Balance Sheet, point number 6d "Amount of cash balance" entered as 0 [with an understanding that all cash I have deposited in bank and there is no cash in hand]
Selected as "NO" for - Are you liable to maintain accounts as per section 44AA? & Are you liable for audit under section 44AB? in Part A General section
I have filed return based on above information and received notice as below
As per Error Description - Taxpayer having income under the head “Profits and gains of Business or Profession” but has not filled Balance Sheet and Profit and Loss Account as required in explanation (f) under section 139(9) read with section 44AA.
Probable Solution - The Part B of the Profit and loss account and Part B of the Balance Sheet (i.e No Account Case Section) should be entered in the corrected return without which the return filed earlier is liable to be treated as invalid.
Please let me know what correction I need to do?
Regards,
Jigar