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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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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