Share trading transactions
This query is : Resolved
15 February 2013
MY CLIENT A LADY WORKING IN A PUBLIC SECTOR BANK-ON HER NAME HER HUSBAND HAS DONE SHARE TRADING TRANSACTIONS I.TAX DEPT.ISSUED NOTICE RAISING SOME POINTS REGARDING SHORT TERM-LONG TERM CAP.GAINS AND REG.SECTION 44-AB I HAVE SOLVED ALL IN LOCAL LEVEL WITH A.O. BY SHOWING BOOKS OF A/CS IN 2010.RECENTLY COM.OF I.TAX ISSUED NOTICE U/S 263 FOR NON-COMPLIANCE OF SECTION 44 AB NOW WHAT TO DO? AS TURNOVER DOES NOT EXCEEDS 40.00 LACS HOW TO EXPLAIN THEM?
CA PARAS BAFNA
(Expert)
15 February 2013
Please consult the AO if he has not been transferred.
.
Explain the things to the CIT in the manner you have explained earlier to the AO.
.
You may also take a plea that in case of Capital Gains Transactions, 44AB can not be applied.
.
.
Explain the things to the CIT in the manner you have explained earlier to the AO.
.
You may also take a plea that in case of Capital Gains Transactions, 44AB can not be applied.
.
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