Receive Notice u/s 139(9)of Income Tax Act, 1961.
I got email from Incometax department giving information as "The return of income filed by you for Assessment Year 2017-18 vide acknowledgement no. [deleted] dated [deleted], is considered defective u/s 139(9) of the Income Tax Act, 1961 as it is found to contain certain defects which has been annexed in.
Error Code : 86
Error Description : As per Section 44AD(6) of the Income Tax Act, 1961, the
provisions of Sec.44AD are not applicable to – (1) persons carrying on professions that are referred to in Sec.44AA(1), (2) persons earning income in the nature of commission or brokerage, and (3) persons carrying on any
agency business.As seen from the return of income filed, the nature of business code mentioned is 00301 General Commission Agents, which falls in the categories mentioned above. Hence, the provisions of Sec.44AD are
not applicable, in your case.
Probable resolution : As the provisions of Section 44AD are not applicable, in
your case, the claim of computing profits and gains of business on presumptive basis, under this special provision is not allowable. Hence, the above defect has to be corrected by way of computing the profits and gains of business under the normal provisions and not under Sec.44AD and offering the same.
My QUESTION is as how to rectify my case, my only profession is i am a Commission Agents of National Insurance, Future Generali, etc., got credit my commission through cheque or ECS directly to my bank account and not involved in any other profession. Thanks.