Income tax return file

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Bhadresh (Querist)
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11 May 2017 Dear sir,

i am exempted for income tax return file & I have return filed for last two year.
I have forgotten my Share Trading Transaction for FY 14-15 so i have notice Received by Income tax Department .
how can i reply for this notice
So please give me suggestion/solution for this Notice.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 May 2017 If you have taxable income pay taxes with interest and file manual return with your AO.

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Bhadresh

Bhadresh (Querist)
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11 May 2017 Dear sir But My income is non texable

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 May 2017 Reply to the notice as no taxable income earned hence no return filed.

Studentsca

Studentsca (Expert)
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11 May 2017 What do you mean when you say that I am exempted for Income tax return file and I have filed returns for 2 years?

Bhadresh

Bhadresh (Querist)
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11 May 2017 yes sir..

i have returned filed with 0 balance

Studentsca

Studentsca (Expert)
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11 May 2017 You mean since Long term capital gain is exempt you filed a nil return??

Bhadresh

Bhadresh (Querist)
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11 May 2017 yes sir

my Yearly income is 2 laks so i return filed with nill.

Studentsca

Studentsca (Expert)
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11 May 2017 That is not correct. You should have mentioned your correct income and the tax liability would still be nil as your income is below basic exemption limit.

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