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Income tax notice

Tax queries 794 views 2 replies

Dear friends

i have recieved income tax notice for non filling of share transactions in 2009-2010 , its recieved at my city income tax department from CIB-321,they have asked me to reply with 10 days turn around time to them by me

I am actually confused because i had filled return in 2010-2011(FY2009-2010) for a partnership firm which made below taxable profits

moreover now coming to share transactions i had made net loss of around 30000 rupees i that FY.

would be more glad to speak to you friends if you could reply me as soon as possible as there is just 3-4 days left for me to reply them.

what should i say them.....i have closed my firm of business too in previous month.

pls reply me..

help me

my email id is marivanjanto @ hotmail.com

thank you

Replies (2)

Goutham,

If you are an assessee you must show all your transactions, even if you incurred the loss. However, if you invest a large sum then you may be in trouble. You may meet the officer personally and show all the transactions of the share business and get remedy from them.Since you incurred a loss it will not be a problem.

regards

 

I am thankfull to you kanagaraj sir,I will show them share related documents,but one thing I have done is,Papers related to my firm r lost n I have f.i.r registered at police station I did complaint in police n got certificate for my firm all documents lost on road but however I m intending to show them all transactions regarding shares Would b very glad if we cud email or talk on phone.. pls reply me on thread too,n if possible email me your number.thank you gautam 07709999936 marivanjanto @ hotmail.com


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