Comment on Notice under Section 139(9)? - Possible reason
commented on
17 Feb 2015, 12:36 AM
Dear Sir,
Thank you so much for informative article on how to sort out issues in response to notice u/s 139(9) in relation to f&O transactions . In the above case as suggested by you either we can declare 8% of turnover as profit & pay tax or get the books audited.In the above case I would like to know if I opt to get the books of account audited then my turnover will be 75000 which I can show in gross receipts in ITR 4.To derive at loss of 57000 I want to know what will be my purchase value which I will show in ITR 4.
Kindly help me on this issue.