1st time itr filing disclosure problem


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Querist : Anonymous

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Querist : Anonymous (Querist)
06 October 2015 my father has a trading business in his name. it was put in my name in 2015 feb.
i want to file ITR.
i have a shares , mutual funds , FD`s on my name.
if i show them in ITR is there any problem?? shall i have to prove the source how i purchased them??

please suggest

06 October 2015 Better to show it in ITR. You can prove the source when asked for.

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 October 2015 how can i show the source sir.. i mean i havenot filed ITR till now and paid no ax till now. can u please tell me what are the consequences i have to face??

06 October 2015 what is the quantum of such shares, NF and FD?

06 October 2015 If you have earned taxable income, not paid taxes and filed ITR, pay taxes for the last two years and file return.

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 October 2015 NO sir till now i havent filed Return in my life..

06 October 2015 Are you worried about income or wealth?


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