Non filing of itr

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2013 Dear Friends,

I have received a letter from Income tax office regarding "Non Filing of Income Tax Return".

I'm a salaried employee working in an IT company and also started trading in Year 2007. From 2007 to till date I've incurred losses in excess of Rs. 2 Lacs. 2-3 years back I withdraw some money from my trading account. Those transactions are mentioned in the letter received from Income Tax department.

Please help me, how should I file the Income tax return now. Will it be filed online or offline. Moreover how to show the transactions of trading in ITR.

I really need help and feeling depressed. As I'm a salaried person my tax is deducted at source. Now I dont' even have Form16 of previous years. Please suggest me how to file the return now.

Thanks & Regards
Jags

CA UMESH DULAL

CA UMESH DULAL (Expert)

31 July 2013 Plz visit tax consultant with relevent papers/form 16/letter from income tax, and take his advise. Tax is complicated matter and let the matter be handled by tax consultant.

As you have made mistake by not consulting a tax consultant in past, why would you like to take a chance this time also?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

31 July 2013 In which item you are trading ?
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You can obtain Form 16 from your employer(s), if you have not received so far or you have scraped them.
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Also check your e-mail for form 16.
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Register yourself on e-filing website on tomorrow. Today access to the site is very difficult. Check your Form 26AS.
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Take help of a CA friend.
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You have to explain the AO that the amount invested or withdrawn is out of your tax paid money or borrowed money (if any).
.

CA UMESH DULAL

CA UMESH DULAL (Expert)

31 July 2013 Do not feel depressed, take help of consultant, he will guide you.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2013 Many thanks Umesh and Paras...

I'll contact a tax consultant and file the ITR as with his guidance.

I've requested my company to provide me Form-16 of previous years. Once I get it I'll file the tax return for missing years.

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