Income tax compliance Notice

Dear Sir

I am house wife and trades with Rs 1.5 lacs received from parents on various occasions  and earned with tuition’s. I lost all the money , no profit. Now, I have received an income tax compliance notice for share trading under
STT-03, STT-04, STT-05 for the year 2012-13.
I have attached the notice.
Pl advise ,  what should I do?
yashpal Asked on September 18, 2015 in Taxations.
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2 Answer(s)

Dear Yashpal

First don’t worry about a Notice been received from Government department.  Before replying to the notice , compile all the financial data from Brokers , Bank statements , cash Income etcc… After all these are arranged and compiled and the Income is below taxable limit, you are in no compulsion to file the IT Return.  The attachment is not there with question , you can send it IQ@taxiq.in .. We will surely try to help you.

Regards

TaxIQ Answered on September 18, 2015.

I have sent email having detail

on September 18, 2015.

Dear TaxIQ, regarding this   query, can ” no compulsion to file the IT Return in case of no taxable income” mean not replying to the notice as well?

on September 19, 2015.
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We should always reply to the notice been received with complete details and keep the acknowledgement also for future references.

Regards

TaxIQ Answered on September 20, 2015.
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