Find
A return with business income must include the profit and loss account and balance sheet details, or the no account case fields where allowed. Leaving these schedules blank is a common reason for a defective notice.
ITR
Defective return with turnover but no profit and loss details
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Provisions
Sec 139(9), Income-tax Act 1961 (now Sec 263(7), Income-tax Act 2025); Sec 44AA, Income-tax Act 1961 (now Sec 62, Income-tax Act 2025)
Analysis
If you keep books, fill the trading account, profit and loss and balance sheet schedules from those books. If you are not required to keep books, the ITR has a no account case section for gross receipts, gross profit, expenses and net profit, and you can use that. The corrected figures must still give the same or a supportable income. If the corrected return changes income, tax may change, so pay any extra tax before you upload.
Close
- Get your books or a simple statement of receipts, expenses, stock, debtors, creditors and bank balances.
- Fill the P&L and balance sheet schedules, or the no account case fields if you qualify.
- Check that net profit matches the income in the business schedule.
- Pay any extra tax and upload the corrected ITR-3 through e-Proceedings.
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