Receiving emails for submitting return even though my income is not taxable

ITR 120 views 2 replies

My AIS for FY 2023-2024 has following entries:

Dividend =10,341
Interest from savings bank =5,512
Interest from deposit =1,304
Sale of securities and units of mutual fund =9,83,276
Off market debit transactions =11,430 (Stock Gift from my mother)
Outward foreign remittance/purchase of foreign currency =3,14,376
As per my zerodha PnL Statement, I Had following details,

Intraday/Speculative profit=    0
Equity Short Term profit=    3587
Equity Long Term profit=    141404.6
Mutual Fund Long Term profit Equity =    34378.6503
Options Realized Profit    = -85882.5

Based on above information, I thought I am not having any taxable income, Hence Not submitted ITR, Hence I ignored to the ITR emails/SMS for 15 JAN 2025 deadline. Now I am receiveing Email for submitting ITR-U stating that NO VALID ITR EXISTING FOR YOUR PAN. I am attaching my previous ITR-3 extract for reference if required.

I am not salaried. I stopped F&O trading and not planning in future. Not interested to claim business loss.

In my case, Is it necessary to submit ITR-U? 

 


Attached File : 3583300 20250203202539 itr3.pdf downloaded: 4 times
Replies (2)

my suggestion, please file the tax return. DId you not see the recent case of F&O transactions where the individual did not file the return and AO levied tax on gross amounts of turnover reported by the exchanges to the Income-tax department?

Thanks Nikhil Jee,

But As per my knowledge you cannot file a Nil return in ITR-U. My income is not taxable then Is it possible for me to file ITR-U? What will be the Fees/Penalty/Charges I have to pay?

Please suggest. Thanks in advance.

Warm Regards


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register