Comment on Notice under Section 139(9)? - Possible reason
commented on
27 Jun 2014, 08:39 PM
Hari,
firstly, it is important to file your returns either profits or losses. If you don’t file your losses, IT department might come back with a penalty based on the turnover.
My advice would be to refile using ITR 4S and pay 8% of your turnover as presumptive income and avoid the audit.