Short term trading loss not declared
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2015
sir, i had submitted my return for the year 13-14 in proper way as per form 16 before the due date. At that time it was assessed & the same was the confirmed by IT DEPTT..
NOW again i had received the notice under above section. i had done share transaction thru the brokers & but made losses due to faulty advice. And losses were not shown in the return. THE NOTICE IS GENERATED THRU CASS. So what is the remedy to protect my self. I had not hide my any income.
PLEASE ADVISE ME.
NOW again i had received the notice under above section. i had done share transaction thru the brokers & but made losses due to faulty advice. And losses were not shown in the return. THE NOTICE IS GENERATED THRU CASS. So what is the remedy to protect my self. I had not hide my any income.
PLEASE ADVISE ME.
CA R SEETHARAMAN
(Expert)
25 September 2015
Only income has to be declared in the return, loss is left to the option of the assessee. Don't worry you say you incurred loss, so not declared in the return IT Dept will accept it.
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