Income tax notice

Since the notice is regarding non filing of Income Tax Return by your brother, submit a reply stating that he has filed his return for FY 2014-15 and attach a copy of Acknowledgement [ITR-V] as a proof.

If the response is to be submitted online then choose the option return already filed and enter the Acknowledgement Number mentioned in ITR-V.

Since no details have been asked about any of the transactions there is no need for you to raise that issue now.

Thank you sir but I have demat account and F.Y. 2013-14 loss Rs. 80150 in share transaction not shown in income tax return and F.Y.2014-15 gain in Share Rs. 50137. I have to pay income tax  on gain Rs  50137 @ 15% 

Chirag mistry

Pay tax on STCG @ 15% and revise your return on or before 31st March 2017 showing the gain.

Had you claimed loss in the original return [ if filed by you on or before due date] for the FY 2013-14 you could have claimed a loss on account of STCL and claimed set off against STCG for FY 2014-15 you could have avoided paying 15% tax unnecessarily to the government.

I have not shown  share transaction in F.Y. 2013-14, Can I Claim loss in F.Y.2014-15 Revised Income tax return

In order to claim loss you have to file your original income tax return on or before due date. Have you done that? 

Yes, I have filled original income tax return before due date  

Thank you Sir for your best information, Can I help How to write reply to income tax above information share with you

You want me to reply to the Income Tax notice received by your brother??

yes, I want to reply by you