After submitting the Income Tax Return, Assessing Officer go over the Return Form. If the Assessing Officer feels that Return of Income of Assessee is defective. He can give a notice Under Section 139 (9) to Assessee for its rectification which are made in Return Form. This rectification should be made within 15 Days of notice. Assessing Officer can increase the period of 15 Days. If the Assessee did not rectify the Return within 15 Days or rectify the Return after the 15 Days then return will be considered as invalid return. It mean that Assessee did not submit the Income Tax Return.
What are the reason a Return is treated as defective.
1. Taxable under each head, Gross Total Income and Total Income have not been shown correctly in the related columns.
2. If the statement of calculation of tax is not enclosed with the return of income.
3. If proof of tax deducted at source, advance tax and self - assessment tax has not been attached with the return of income.
4. If Manufacturing Account of owner in case of sole trader or Profession or Personal Account and Balance Sheet is not attached with the Return of Income.
5. If Capital Account of the owner in case of sole trader or Profession or Personal Account and Personal Account of partners in case of the firm is not attached.
6. If the copy of audited Profit and Loss Account and Balance Sheet are not attached with the Return of Income.
7. If Cost Accountant of the Company have been audited and auditor's report is not attached with the Return o Income.
8. If the auditor report duly certified by an auditor is not attached Under Section 44AB with the Retun of Income.
9. If regular books are not kept by the assessee, and the following is not shown in Return of Income :
(a) Gross Receipt through total sales
(a) Gross Receipt through total sales
(b) Gross Profit
(c) Net Profit and Expenses of business and profession, Gross Profit and Net Profit base.
(d) Sundry Debtors, Sundry Creditors, Stock of Goods and Cash Balance on the last day of the year.
10. Name of the assessee not matched with PAN Card name Income Tax Return will be treated defective.
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10. Name of the assessee not matched with PAN Card name Income Tax Return will be treated defective.
We hope you would have liked our post so please like, share and subscribed our website. If you have any query then please comment in comment box.
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