148
This query is : Resolved
01 April 2014
Respected Sir I have sale my ancestral house of Rs. 1340000/-. I deposited Rs. 999000/-, 49900/- and 100000/- in my saving account. Income tax department issued notice in my name Sub:- Non filing of Income Tax Return. 2010-11, 2011-12, but my income is Rs. (NIL) 0/- then issued the notice of Sec- 142(1) for the AY. 2010-11, 2011-12 & 2012-13. I have not given reply against Notice u/s 142(1)to ITD. Then I have received notice U/s Sec. 148. Kindly I request to You please guid me satisfy the ITD. Thanks Hardev Singh
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=806113
Read more at: https://www.caclubindia.com/experts/modify_message.asp?entry_id=806113
01 April 2014
well first question, who is your income nil?
what was your capital gains? if there was any, did you reinvest these amounts in under section 54?
you should have responded to 142(1) notice with these facts.
Now that you have 148 notice, kindly prepare a proper response with proper computation of capital gains/loss liability, if any to demonstrate that you had income less than the tax exempted limit
what was your capital gains? if there was any, did you reinvest these amounts in under section 54?
you should have responded to 142(1) notice with these facts.
Now that you have 148 notice, kindly prepare a proper response with proper computation of capital gains/loss liability, if any to demonstrate that you had income less than the tax exempted limit
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