Income Tax Department Non-Filing of Return Information Details Verification ID 1101779523.001 Verification Issue Commodities Transaction (NTX11) Information Code CIB-502 Information Description Contract of Rs. 10,00,000/- or more in the Commodities Exchange Information Source NATIONAL STOCK EXCHANGE (Filer TAN: NS001) Information Value (INR) 3,40,250 Filer Name NATIONAL STOCK EXCHANGE Mode of Transaction Pincode of Filer Date of Transaction 30-04-2015 Response Aware of this information Detailed Response A1. Total receipts as per taxpayer pertaining to above information (INR) 3,40,250 Amount (INR) 3,40,250 Remarks SOLD OPTION SBI 270 CALL-1250 X 2.20 = Rs..2750/- ( Total Transaction Amount) A2. Less: Amount (INR) relating to other year/PAN (INR) 0 SN. PAN Financial Year Amount (INR) Remarks A3. Less: Amount (INR) covered in other information (INR) 3,40,250 SN. Amount (INR) Remarks 1 3,40,250 SOLD OPTION SBI 270 CALL-1250 X 2.20 = Rs..2750/- ( Total Transaction Amount) A4. Less: Exemption/Deduction/Expenditure/Set Off of Loss (INR) 107 SN. Nature of Exemption/Deduction/ Expenditure/Set Off of Loss Amount (INR) Remarks 1 Others 107 ICICI Brokerage - 95.00 + Service Tax - 11.74/ - ( Rounded to Total 107) A5. Income Gain/Loss A1 - (A2 + A3 + A4) (INR) -107
I want to reply in compliance e verification portol, I have done some stock trading in options buying and selling in the year 2015-16, but the amount i have traded in this particular options is around Rs. 2700/- only but the e compliance query is asking for total transaction value details for 3,40,250/-, I have filled the details in response pages but weather it is correct or wrong , please guide how to give the reply for this query. If possible you can call me at 9845783077
Query - 2015-16 CIB-502 Contract of Rs. 10,00,000/- or more in the Commodities Exchange Answer- Self-Investment/expenditure is out of accumulated savings PLEASE FIND THE BELOW QUESTIONS I SHOULD FILL AND SUBMIT TOE VERIFICATION PLEASE LET ME KNOW WHAT ARE FIGURES AND REMARKS I SHOULD FILL FOR BELOW Detailed Response A1. Total receipts as per taxpayer pertaining to above information (INR)------------- Amount (INR) -------------- Remarks ---------------------------------- A2. Less: Amount (INR) relating to other year/PAN (INR) --------------- SN. PAN Financial--------------- Year---------------------- Amount (INR)------------------ Remarks------------------------- A3. Less: Amount (INR) covered in other information (INR)---------------------- SN. Amount (INR)------------------ Remarks------------------- A4. Less: Exemption/Deduction/Expenditure/Set Off of Loss (INR)--------------------------- SN. Nature of Exemption/Deduction/ Expenditure/Set Off of Loss--------------------- Amount (INR) ---------------------------Remarks------------------------ A5. Income Gain/Loss A1 - (A2 + A3 + A4) (INR) --------------------------------- Query - 2015- 16 Return Not Received ITR has not been filed Answer- No Taxable Income
Dear Sir,
The major concern of the deptt.is that you have not filee return of income during A.Y.2016-17 even though the amount exceeds maximum exemption limit. In case of options turnover is total of profit and loss and thereafter you check whether it is taxable or not. Please share your ledger account of broker at .com. Might be depptt. took figure of total amount invested.
Hi,
You should have filed the return and disclosed the above transactions. You will now need to explain with details why the return was not filed.
Regards,
Nikhil.
It's really difficult to answer it here without looking at your online account and talking to you.
We recommend you to meet a A personally or take a phone consultation here to understand better.
Please feel free to call/ revert in case you need more clarity.
Thanks and regards
Abhishek Dugar
CA CS B.Com
Dear Sir, Thanks for your feed back, as per your requirement i am attaching ICICI Profit and Loss account Ledger Copy where i have lost Rs. 35135/- in the year 2015-16 , Example: I have brought SBI 270 Call Options @ Rs. 1 x 1250 quantity= Rs. 1250/- actual amount purchased, but the turn over is calculated on 270 + 1 x 1250= Rs. 3,38,750/- in e verification statement, for which i should reply. Waiting for your kind reply. If still you want my User ID for online account details i can provide you. Regards Pushpaveni Murugeshan PLEASE FIND THE BELOW QUESTIONS I SHOULD FILL AND SUBMIT TOE VERIFICATION PLEASE LET ME KNOW WHAT ARE FIGURES AND REMARKS I SHOULD FILL FOR BELOW Detailed Response A1. Total receipts as per taxpayer pertaining to above information (INR)------------- Amount (INR) -------------- Remarks ---------------------------------- A2. Less: Amount (INR) relating to other year/PAN (INR) --------------- SN. PAN Financial--------------- Year---------------------- Amount (INR)------------------ Remarks------------------------- A3. Less: Amount (INR) covered in other information (INR)---------------------- SN. Amount (INR)------------------ Remarks------------------- A4. Less: Exemption/Deduction/Expenditure/Set Off of Loss (INR)--------------------------- SN. Nature of Exemption/Deduction/ Expenditure/Set Off of Loss--------------------- Amount (INR) ---------------------------Remarks------------------------ A5. Income Gain/Loss A1 - (A2 + A3 + A4) (INR) ---------------------------------
Hi,
My suggestion is that you consult somebody personally to ensure that you have the most effective conversation and an answer that will servw your purpose.
Regards,
Nikhil.
It is advisable to get in touch with consultant along with documents for proper guidance.
