Air notice
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2013
Dear Sir,
one of my friend receive notice of AIR, as he made a transaction of rs. 10 lk in saving bank account in f.y.10-11.
all transaction related to his business (bangle and ladies purse retailer at footpath). All transaction is between rs. 25000-45000. he is from bhopal and use to visit delhi for business purpose. He deposit cash here and withdraw there.
How he respond to such notice?. No accounts maintained, no itr filed by him.
one of my friend receive notice of AIR, as he made a transaction of rs. 10 lk in saving bank account in f.y.10-11.
all transaction related to his business (bangle and ladies purse retailer at footpath). All transaction is between rs. 25000-45000. he is from bhopal and use to visit delhi for business purpose. He deposit cash here and withdraw there.
How he respond to such notice?. No accounts maintained, no itr filed by him.
21 June 2013
Need to explain to A.O.
Since he has the business income, he might have filed the income tax return. he failed, so penalty may be levied along with demand of filing ITRs
Since he has the business income, he might have filed the income tax return. he failed, so penalty may be levied along with demand of filing ITRs
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