Short term trading loss not declared

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2015 sir, i had submitted my return for the year 13-14 in proper way as per form 16 before the due date. At that time it was assessed & the same was the confirmed by IT DEPTT..

NOW again i had received the notice under above section. i had done share transaction thru the brokers & but made losses due to faulty advice. And losses were not shown in the return. THE NOTICE IS GENERATED THRU CASS. So what is the remedy to protect my self. I had not hide my any income.

PLEASE ADVISE ME.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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25 September 2015 Only income has to be declared in the return, loss is left to the option of the assessee. Don't worry you say you incurred loss, so not declared in the return IT Dept will accept it.