Income tax notice
This query is : Resolved
12 April 2016
I have not filed the for AY 2014-15 because income was only 3 month salary which was around 2 lakhs. i have done some FD , Share trading in that financial year. Day before yesterday i got notice from income tax department. In the Compliance query they are asking about Fixed Deposit, Share Trading and credit card payment. What to do? I am unable to understand what is this?
12 April 2016
Before filing the compliance query response, read the following article and it is advisable that consult a tax professional for submitting the the response.
www.caclubindia.com/articles/understanding-of-compliance-query-of-income-tax-department-26620.asp
-Abhishek Ranjan Singh
+919022838615
abhishek@arssolutions.co.in
www.arssolutions.co.in
www.caclubindia.com/articles/understanding-of-compliance-query-of-income-tax-department-26620.asp
-Abhishek Ranjan Singh
+919022838615
abhishek@arssolutions.co.in
www.arssolutions.co.in
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12 April 2016
Thank you sir for your expert reply on my query and a special thanks for so informative article which has cleared my all doubt. Thanks once again
12 April 2016
Sir, One more question, If my Income is below limit than why did i got this Notice (Compliance query)
12 April 2016
And whom i can contact to submit the response?
12 April 2016
There are several information which are cause for income tax notice for non filling of income tax return for that particular year which are as below
CIB-403 – Time deposit exceeding Rs 2 lakh
Cash deposit above Rs. 50000
TDS return – Interest other than Section 194A
Credit Card payment more than Rs 2 lakh
CIB-321 Share transactions Rs 20000
CIB-184, CIB-411
TDS-92A, TDS-92B (TDS return salary to employee), TDS 94A
TDS return – Insurance Commission
CIB- 183 Time deposit of Rs 100000
CIB-410 cash deposit aggregating of Rs 200000
Transfer of Immovable property
Interest in Bank exceeds Rs 50000
CIB-403 – Time deposit exceeding Rs 2 lakh
Cash deposit above Rs. 50000
TDS return – Interest other than Section 194A
Credit Card payment more than Rs 2 lakh
CIB-321 Share transactions Rs 20000
CIB-184, CIB-411
TDS-92A, TDS-92B (TDS return salary to employee), TDS 94A
TDS return – Insurance Commission
CIB- 183 Time deposit of Rs 100000
CIB-410 cash deposit aggregating of Rs 200000
Transfer of Immovable property
Interest in Bank exceeds Rs 50000
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12 April 2016
The income tax department has been capturing information on financial transactions /activities relating to you through Non-filers Monitoring System (NMS). If your transaction / activity come in under it you will receive the notice.
12 April 2016
For submitting the compliance query response you can contact any good Tax professional, you can search it in google as per your area and convenience.
12 April 2016
Mr. Murtaza Bhagat is also correct. Detail list of it you can find in my following Article:
https://www.caclubindia.com/articles/understanding-of-compliance-query-of-income-tax-department-26620.asp
https://www.caclubindia.com/articles/understanding-of-compliance-query-of-income-tax-department-26620.asp
12 April 2016
Murtaza sir thanks for your reply but it only part of article, hopefully copy paste of above article.
12 April 2016
Thanks once again Abhishek Sir
12 April 2016
Abhishek Sir, As per Google search i found your firm ARS Solutions on top. I am sending my Details in email. My request to you please file it personally.
Thanks Once Again
Thanks Once Again
12 April 2016
My AY 2015-16 Income tax return is also pending? Sending my form 16 also please find the return for also. Revert me if any thing else required.
12 April 2016
Your email has received, revert you regarding other required details for compliance response.
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12 April 2016
For Income tax return filing General Information Form and required documents details also email to you. Revert us with Filed General Information Form and other documents.
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13 April 2016
Good Job Abhishek Ranjan Singh Sir....!!!
13 April 2016
Thankyou
Murtaza ji....My Name is Abhishek Ranjan Singh
Murtaza ji....My Name is Abhishek Ranjan Singh
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13 April 2016
Welcome Sir...!!! It was nice sharing...!!!
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13 April 2016
Thank you once again
Request : Post Article related post on article comment box
Request : Post Article related post on article comment box
13 April 2016
Nice sharing and nice professional service 10 out 10....:)
13 April 2016
Murtaza sir corrected his mistake.... now it is correct name. i think he missed "N" in copy paste...:p
13 April 2016
No I have wrote his father's name with spelling mistake. I was over exited to appreciate and write his middle name instead of first name...!!! but proud feeling for a father who have son like " Abhishek sir".
13 April 2016
Thanks for good words, but our middle name is not our father's name.
Thanks once again
Thanks once again
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