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What are defective returns under income tax ?

According to the explanation appended to section 0439(9), a return of income shall be regarded as defective unless all, the following con­ditions arc fulfilled:

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(a) The annexures, statements and columns in the return of income relating to computation of income chargeable under each head of income, computation of gross total income and total income have been duly filled in.

(b) The return is accompanied by a statement showing the computation of the tax payable on the basis of the return.

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(c) The return is accompanied by the report of the audit obtained u/s 44AB.

(d) The return is accompanied by proof of the tax, if any, claimed to have been deducted at source and the advance tax on self assessment, if any, claimed to have been paid.

(e) Where regular books of account are maintained by the assessee, the return must be accompanied by the copies of the following:

(f) Manufacturing Account, Trading Account, P & L Account or, as the case may be, the Income & Expenditure Account or any other similar account and Balance Sheet.

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(g) In the case of a proprietory business or profession, the personal account of the proprietor, in the case of a firm, association of persons or body of in­dividuals, personal accounts of the partners or members.

(h) Where the accounts of the assessee have been audited, the return must be accompanied by copies of the audited P&L Accounts and Balance-Sheet and the auditor’s report and, where an audit of cost accounts of the assessee has been conducted u/s 233B of the Companies Act, 1956, also, the report under that section.

(i) Where regular books of account are not maintained by the assessee, the return must be accompanied by a statement indicating the amounts of turnover or as the case may be, gross receipts, gross profit, expenses and net profit of the business or profession. The basis on which such amounts have been computed should also be given. The statement must also disclose the amounts of total sundry debtors, sundry creditors, stock-in-trade and cash balance as at the end of the previous year.

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