Received a notice from Income Tax Dept

Received a notice from Income Tax Dept

Hi, 
I have received a notice from Income Tax Dept. I am salaried and tax is deducted at source. Please help in responding to the notice.
1. Purchase of equity share in a recognised stock exchange - Had made a few investments in stock exchange for around 2000 or 2500. Made a profit of only 100-200
2. Sale of equity share in a recognised stock exchange - same as above
3. Sale of equity share in a recognised stock exchange - same as above
4. TDS Return salary to employees - Not sure about this.

Please advise

Thanks in advance
Jishnu M

Asked 8 years ago in Income Tax

Also, this is for the financial year 2013-14. I have not submitted returns for the same and while trying to submit it online, I get an error that the end date for filing this returns is over. Can I submit the returns online? Should I submit the returns and then reply to the notice or vice versa? 

Appreciate your help

Asked 8 years ago

Yes you can submit the return online on the basis of the notice you received by selecting the appropriate Section.

After submitting the returns you can reply to the Notice.

This is a common notice which many are getting since they have taxable income but not filed the returns.

Shyam Sunder Modani

CA, Hyderabad

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Talk to Shyam Sunder Modani

Can you please share the notice

Abhishek Dugar

CA, Mumbai

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Talk to Abhishek Dugar

Hi Abhishek,

Thanks for your response.

Have not received a copy of notice. Just saw the same under Compliance section on the website.

Hi Shyam,

Thanks for your response.

I am unable to file the returns online. When I try to do it, I get an error stating that the End Date for this filing is over. So, shall I file returns manually? Or just responding to the Compliance suffice?

Thanks in Advance
Jishnu M

Asked 8 years ago

Also, appreciate if you could tell me what response shall I give to the notice? Especially for TDS return salary to employees. Also, Shall I mention equity sales and purchase under income when I file the returns?

Asked 8 years ago

Dear Sir,

If you could share the screen shot of website.

Further, the time limit of filing return for FY 2013-14 has been lapsed. Now you can file the return only in response to a notice from AO.

Thanks and Regards

CA Abhishek Dugar

Abhishek Dugar

CA, Mumbai

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Sir in the present case if your salary is more than 5 lakhs then compulsory you need to file online tax returns.

and give the answer for the online query online only.

Shyam Sunder Modani

CA, Hyderabad

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164 Consultations

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Talk to Shyam Sunder Modani

Hello Sir,

As per the information provided by you it appears that you can see the issue under the compliance module and the return is time barred.

If this is the case, then the best option is to pay the respective taxes with interest and keep it for your record, whereas in the module you can select Return under process/ Others. You can also mention that the respective taxes with interest has been paid in order to avoid future complications.

Trust this clarifies your query.

Feel free to call back/ get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB - GEN, CERT. FAFP