Income tax return not filed for ay-2010-11, 2011-12. what ca

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 September 2013 Hi,
Yesterday I have received one letter from income tax department as below
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Sir/Madam
Subject: Non filing of income tax return – Reg

1. The Income tax department has received information on financial activities relating to you. A list of some of the information for financial year 2009-10 onwards is provided overleaf. As per records, you do no appear to have filled income tax return for Assessment year(s) 2010-11, 2011-12

2. You are requested to furnish your response in the enclosed proforma to the undersigned by post within 10 days. Please not that your personal presence or presence of any authorized representative is not required.

3. if no reply is received, within specified time, it will be inferred that you have not filed income tax return for the relevant assessment years and proceedings under Income tax act, 1961 may be initiated

Yours Faithfully
(Income tax officer)
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Do not know what to do.

I am salaried person. My salary is 6,000/-. Last 2 Yrs. ago I have done the transactions in Demat of rupees one lakh.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 September 2013 Make a reply stating the facts about your source of income. Since the total income is below the taxable limit you have not filed the return. Also state the source of investment as emerged from your past as well
as the savings of the relevant financial year. Produce your bank pass book with a photocopy and salary certificate from your employer.
.

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Querist : Anonymous

Querist : Anonymous (Querist)

01 September 2013 Sir, can need to file the Income Tax Retuns.

&

I have not earned the money, totaly goes in loss.

I am handicap person

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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02 September 2013 You can not file the return for AY 2010-11 and 2011-12.
.
Explain the things to the AO with supporting documents. You may obtain a scrip-wise summary from your broker about Profit & Loss made.
.
In my view you go directly to the AO with the relevant particulars. He will understand the situation and definitely provide further guidance to resolve the matter.
.

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Querist : Anonymous

Querist : Anonymous (Querist)

02 September 2013 Thanks Sir,

What is the Income slab for Physically Handicapped Person

and

I am using the credit card. total uses of card per month is 8,000 to 9,000 thousand.

that is taxable or not.

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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01 August 2024 The income tax slabs for individuals, including those who are physically handicapped, are the same as those for other individual taxpayers. However, physically handicapped individuals can avail of additional deductions under Section 80U of the Income Tax Act.Taxability of Credit Card Expenses
Using a credit card and making payments using the card is not taxable. However, the expenditure itself is not subject to tax. Here’s a more detailed explanation:

Credit Card Payments:
The act of using a credit card is not taxable. The transactions and payments you make with your credit card do not count as income or generate a tax liability by themselves.
Tracking Expenditures:
While credit card usage is not taxable, the expenditure can be tracked by the Income Tax Department if your spending is significantly high and does not match your reported income.
Taxable Income:
If your credit card payments are unusually high compared to your declared income, the Income Tax Department may scrutinize your transactions to ensure that there is no unreported income.
Cash Payments:
If you are making large cash payments towards your credit card bills, ensure that your income justifies such expenditures, as the IT Department monitors cash transactions over a certain limit.
Summary
The income tax slabs for physically handicapped persons are the same as for other individual taxpayers, but they can avail of additional deductions under Section 80U.
Using a credit card and making payments via the card are not taxable events. However, ensure that your income supports your credit card expenditures to avoid scrutiny from the Income Tax Department.