Non filling income tax return file

This query is : Resolved

shamim (Querist)
Follow

20 March 2014 I have received a notice on Non filing of Income Tax return for AY 2010-11,AY 2011-12.? Cash deposited of rs. 1000000/- or more in year in a saving account both the year.i explained that time i was studying in t.y.bcom and my account operate in my uncle. he is selling footwear retailer. please help me how can close this matter because my salary right now rs 10500/- p.m. can i close the account or some different ? i don't ha ve money

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

20 March 2014 If u show that much of amt 10L, then u have to pay tax. The account is operated by ur uncle but it is in ur name so u r liable to pay tax. U can talk with ur AO about the matter, if he will satisfy then he may impose the burden to ur uncle, but the tax must have to be paid.

And Shamim closing of account is not the solution. It is past year income if u close the account, till nw ur liability is not over...

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok