Hello,
One of my NRI relatives has received notice for non filing of IT return for AY 2015-16. The IT officers has noticed that there was a transactions in bank account for amount >10lacs in FY 2014-15. However he doesn't have any taxable income in India. This amount pertains to past years savings kept in different bank accounts and deposited in one bank account. What should be the ideal reply to notice?
Can we reply that there was no taxable income in any year and the amount in bank pertains to savings in past years and hence no return needs to be filed.
Kindly suggest
CAclubindia
