25 January 2015
friends kindly help me i had got notice from income tax department that i had not filled income tax return for ay 2010-11, 2011-12 and further that under information code AIR-005 i had paid rs 100000 or more for aquiring shares kindly suggest what to do those they reffer to particular transcation of aquiring shares or in aggregate in whole year
1`. First file the return and fulfill the legal compliances.
2. 2010-11 and 2011-12 - time bar case, however, requesting the officer in writting and accept the return, by disclosing the reason, why you not filed in time.
3. Rs.1,00,000 investment in Shares is not true, give it in writting.
4. You send the ITR filed ack. copy along with your reply to the department wherein you received from the Notice (may from concern Jurisdiction office or Invstigation office).
CAclubindia
