How to reply to income tax notice for trading in bitcoin
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2018
I have got notice u/s 131 (1A). IT office is asking for my 3 years return and assets details.
Also asking for list of Bit coin accounts and bitcoin investment and profit.
I am a salaried person and my TDS is deducted normally by employer.
My investment is around 5 -6 lakhs and so far there is no gain in trading in bitcoin.
i have heard IT officer harrass a lot..
Please advise, this is serious. How should i reply to IT notice.
Also asking for list of Bit coin accounts and bitcoin investment and profit.
I am a salaried person and my TDS is deducted normally by employer.
My investment is around 5 -6 lakhs and so far there is no gain in trading in bitcoin.
i have heard IT officer harrass a lot..
Please advise, this is serious. How should i reply to IT notice.
25 February 2018
just submit the details. If there is no gain, you don't have anything to worry. Even if there is a realised gain, max an officer can do is to ask u to pay advance tax.
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