Tax filing

206 views 3 replies

Jagan

IT Developer

11 Points Joined December 2016

Hi,

I received an email from IT department saying their non-filers monitoring system has identified me.

I'm an NRE, having no salaried income in india.

But I do fixed deposits and invest in stocks and MFs.

My total income in <2.5 lakh. Hence I didn't file any tax returns.

In the IT Portal, it showed below 2 items for submitting responses :

1. STT-02 : Sale of equity share(settled by the actual delivery or transfer) in a registered stock exchange

2. TDS-194A : TDS Return - Other interest (Section 194A) I'm just wondering why these were identified as the income from the above two didn't cross 2.5lakh.

Anything that I should do other than informing IT department that my total income is < 2.5 lakh?

Thanks

Replies (3)

You have to file your IT return declaring both Taxable and Exempt income (Interest on Fixed Deposits , Dividend earned on Stocks , Short Term Long / Long Term Capital gain, Agriculture Income etc.,). If your income is below 2.5 L you will get refund of the TDS amount deducted by banker.

There after submit your respose under Compliance section in efiling portal.