Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 May 2012 MY FRIEND RECEIVED NOTICE U/S 148 for escaping assessment of income BUT HE SAID THAT THERE WAS NO INCOME FOR A.Y 06-07 AND NOT INVESTED ANY AMOUNT & AND NOT RECEIVED ANY MONEY FROM ANY PARTY THEREFORE HE HAD NOT FILE ANY I T Return, now in reply he has to file IT Return or not , if has to file Nil Return then ITR2 for A.Y 2005-06 not getting from any where so please what he has to do for filing return or he can file simple letter of he had Nil income for the said period and what would be argument against for objection, please advice

CA Alok Somani

CA Alok Somani (Expert)
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14 May 2012 Your friend has to file return of Income in reply to notice u/s 148.You can ask for the reasons for opening the case in u/s 148. The AO has to give the reasons for opening case u/s 148.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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15 May 2012 Your friend needs to communicate the ITO for getting knowledge on which income he has escaped. If actually you friend has no income during that year, then is this case, he should prove to the satisfaction of the AO that there was no income. Then, if required, he should file Nil returns.

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)
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