27 February 2016
Sir, I received one notice with Sub : Non filing of income tax return.In notice Give three reason .1 : Cash Transaction Of Rs. 100000/- 2 : Time Deposite Of Rs. 100000/- 3: TDS Retun
For Financial Year 2013-14,
Steal I m not file any income tax return Because I m retire men Age 71 year i have no taxable income. In this year i renovate my home saw i use my saving money for it & some loan also from Friends saw doing transaction also. one my Fd also use Bank also deducted TDS but i m not know on that time now how reply to income tax please give me proper guide
Nothing to worry about. If you are sure that there is no taxable income for that financial year then you can just write the letter to concerned Assessing Officer stating " You have no taxable income for the FY 2013-14, hence return for the same was not filed"
The only point of concern is as you said you have done some loan transaction with your friends and IT department is showing that you have done more than 10 lac cash transaction then please make sure that you have not done loan transaction with your friends in cash as same is prohibited by income tax
CAclubindia
