• Notice u/s 139/9

I m getting income under 194J , as a technical consultalnt in a textile fabric msnufacturing firm.
I had filed my ITR of AY 2017-18 via ITR 4S PRRSUMPTIVE BUSDINESS AND PROFESSION RETURN.( last year 2016 -17 i had filed ITR 4 and i got refund without any query)
but now i have got notice for defective itr , reason is written as below -----

error code 89 -- stating that the provision of section 44ADA is not applicable you.The nature of bussiness code in sch NOB is not profession( i had used code 0703 - technical consultancy ) and income disclosed under 44ADA is more than zero hence section 44ADA is not applcable to you. 

In other column of possible resolution follwing is written 

" The provisions of Section 44ADA is applicable only toProfessionals with nature of business codes of 601 to 607.
Taxpayer is requested to furnish correct Return Form type,i.e.ITR- 3 or ITR- 5 as applicable. If the Income has been disclosed under incorrectSection, the correct Section ofthe Schedule BP may be filled. If the Nature of Business code entered in the Return filed is not correct, the correct nature of business Code may be entered in the Sch NOB and the Corrected Return may be filed."

So what ishould do now ?? Pl guide.

SATYAVIR SHARMA
9413347311
Asked 6 years ago in Income Tax

Sharma ji

You have to file ITR 3 Form , your nature of business is not covered under section 44ADA, 44ADA is only for defined professionals

Thus prepare your Income and expenditure account and balance sheet and file ITR 3 form

Lalit Bansal
CA, Delhi
773 Answers
61 Consultations

5.0 on 5.0

Hi Satyavir

You can file ITR 4 and choose the business code 607 in order to opt for presumptive taxation under action 44ADA.

I assume you qualify for the conditions for claiming 44 ADA.

Lakshita Bhandari
CA, Mumbai
5687 Answers
908 Consultations

5.0 on 5.0

Dear Sir,

Actually Section 44AD is not applicable to you. It is only applicable to recognize professionals and not just any professionals.

So you have to revise your return with filing all details of profit & loss and balancesheet.

Vishrut Rajesh Shah
CA, Ahmedabad
928 Answers
38 Consultations

5.0 on 5.0

Hi Satyavir,

Assuming you are eligible for claiming presumptive taxation under section 44ADA, you need to select the code 607 because codes for professionals are only 601 to 607.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Hello,

That is a technical glitch which most assessee's are facing as of now. One way is to change your code and re-submit or the other is to fight it out with them through email or messages.

I would anytime suggest the first.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, FCA, LLB, CERT. FAFP

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

Hello Sir,

It will be preferable if you change the business code rather than wasting your time with the department explaining them that the section includes technical consultant.

Regards,

Keerthiga Padmanabhan

M.Com., CA, LL.B

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

5.0 on 5.0

congratulations!!

Lalit Bansal
CA, Delhi
773 Answers
61 Consultations

5.0 on 5.0

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