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Received it notice that not file itr for ay2017-18

MOHD SHOAIB (Service) (21 Points)

23 January 2019

Plz find the attachment and guide in this matter as my father has no fixed income and my mother was govt employee after her retirement she transferred all the post retirement benefits to my father's account and I also gave 11.00 lacs to my father account and made a fixed deposit in bank so that they can easily cover their daily needs by the interest of that amount. Now I received a msj today from IT that u have not filed ur itr for ay2017-18. Plz guide in this matter as they are very worried and I m also a working person and far away from them.

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2 Replies

Ranjeet Singh (Corporate Law Matters & Taxation) (565 Points)
Replied 24 January 2019

First of all submit online response within 21 days of receiving notices. Yes. IT department is issuing notices to those who have high volume transactions in their accounts but havnt filed itr so far. Don't worry. You file your mothers' itr and show all the retirement benefits under the head salary subject to some exemptions. Pay tax accordingly. In addition, file your father's itr too. Make a covering letter stating the exact amount transferred from mothers' to Fathers' account by cash and justify the transaction. That's it.