Comment on Notice under Section 139(9)? - Possible reason

Rohit commented on 12 Jul 2014, 11:29 AM

Dear Nithin,

I am a salaried class person and do intraday trading (cash segment only). For the AY 2013-14 i had filed ITR4 as apart from salary, I had intraday loss oh RS 5900. The total turnover was less than Rs 50,000. In ITR4, I had shown net loss of Rs 5900 in schedule PL(51d – No accounts maintained) and shown it as a speculative loss.
Now, I have received 139(9), for AY 2013-14 stating error 14 (Assessee entering negative amount in gross profit or net profit.) and error 23 ( Where assessee furnish total of amount deducted in,3,4 and 5 of Schedule BP should be consistent with Total credits in the P and L Slno.5).

Please guide for the way forward.


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