22 January 2015
please suggest me what remedy should be taken in following case...
My father had incurred a loss of 100000rs. under commodity exchange in f.y 2010-11 and due to loss n tax free income from pgbp no I.T return had been filed since f.y 2010-11, 11-12 and 12-13 and after then I filed my father's I.T return for 2013-14 without prescribing the loss of commodity exchange now I have received a letter from ITO for non filing the above prescribed return so now please suggest what remedy should be taken against the action of ITO.
23 January 2015
Please check whether the letter received from ITO is just a letter issued to all non-filers or any specific letter issued to persons as per the information of AIR ( Annual Information Report).If it is for non-filers, you can write a letter stating that your father has no taxable income in those years and hence no ITR is filed.If it is for transactions relating to AIR, it is advisable to consult a Professional for guidance.
CAclubindia
