1. Error Code 1: Tax computed but GTI(Gross Total Income) is nil or 0?
Description: No tax can be computed without providing the details of income. The Assessee should maintain consistency in providing details of income and tax computation in the return of income in the new xml which will be filed in response to this communication.
2. Error Code 3:“Part A, P and L and/or Part A BS (Balance Sheet) have not been filled”
- In case, if there are only pre-operative expenses, even then those expenses should be entered in P&L account. Then, assessee is also required to add back such expenses in serial no. 22 of schedule BP (i.e. “Any other item or items of addition under section 28 to 44AD”) in the new xml which will be filed in response to this communication.
- Please ensure that Profit & Loss and Balance Sheet to be filled in case of both Indian and Foreign Company.
3. Error Code 8:”The Assessee has filed ITR-4S. Even though the total presumptive income u/s 44AD is less than 8% of Gross turnover/Gross receipt”
Description:ITR 4S has been filed but total presumptive income u/s 44AD is less than 8% of Gross Turnover or Gross Receipts. In these cases, ITR-4 should be used for filing the return.
4. Error Code 14:“Assessee is entering negative amount in gross profit or net profit at Serial number 51b and /or 51d. of Part B of Profit & Loss Account”
- In case where regular books of accounts are not to be maintained, assessee can furnish the data in serial number 51 of Part B of Profit & Loss Account (“No Account Case”). However, all the rows i.e 51a to 51d needs to be filled in.
- If negative amount derived in Net profit at Serial number 51 d, assessee has get his books audited.
5. Error Code 19:”Where domestic Flag is NULL”
Description:A company Assessee has to mention whether it is a domestic or non-domestic company in the return of income in the new xml which will be filed in response to this communication.
6. Error Code 27: Assessee is claiming income U/S 44AD at 8% of the Gross Receipts which exceeds the limit as prescribed under section 44AD
7. Error Code 28:“Assessee mentioning gross receipt or income U/S 44AD more than 2 Crore in ITR 4”
Description: Assessee having Gross Receipt or presumptive income U/S 44AD more than 2 crore cannot file ITR 4. Kindly file relevant ITR with the new xml which will be filed in response to this communication.
8. Error Code 38:“Tax determined as payable in the return of income filed has not been paid”
Description:Pay the taxes and fill the details of the pre-paid taxes in schedule IT, TDS, TCS as applicable.