Filing of income tax returnsv

This query is : Resolved

REKHA PANJWANI (Querist)
Follow

11 August 2016 THERE IS A CLIENT HE FILE ITRV AND HE DINT SHOW SECTURITIES LOSS OF 350000 AND THE TRANSACTION WAS OF 3 CRORE.NOW HE GOT A NOTICE FOR CLARIFICATION..AND ALL THESE WAS OF AS YR 2014-2015...PLZ HELP....HE WAS INVESTOR....HE SHOW HIS SALARY INCOME AND OTHER INCOME IN ITR....PLZ HELP EXPERTS.....

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

11 August 2016 It is left to the option of the assessee to declare short term or long term capital loss in the return. Reply to the notice as your client is an investor and incurred only capital loss hence not disclosed in the return.

REKHA PANJWANI

REKHA PANJWANI (Querist)
Follow

11 August 2016 Sir 3 crore ka transaction Tha ND he dint done audit also

REKHA PANJWANI

REKHA PANJWANI (Querist)
Follow

11 August 2016 Uska penalty lagega na

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

11 August 2016 Only in case of share trading, day trading audit is required. In case of investment tax audit not required and no penalty levied.

REKHA PANJWANI

REKHA PANJWANI (Querist)
Follow

11 August 2016 OK thnku sir