"Prepare a true and correct return of your income... in respect of which you're assessable under IT Act 1961 during the previous year relevant to the Assessment year mentioned above."
What does this mean? I have already filed the returns for FY 11, 12, and 13. My FY 13 income was double the FY 12 and paid the tax as well. So what does this mean?
I got this notice today and the CA is out of town so I can ask him after few days only...
Any help will be appreciated!
Thanks!
mr. varkey ji
you should prepare a analysis that why such difference in income are coming
then if you are satisfied with your analysis u should reply to income tax as due to this reason my income tax return is true and correct.
thank
| Originally posted by : YATISH GUPTA | ||
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mr. varkey ji you should prepare a analysis that why such difference in income are coming then if you are satisfied with your analysis u should reply to income tax as due to this reason my income tax return is true and correct. thank |
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So it means that I must give more clarity about how the income doubled the next year? Also, they are asking about FY 12 returns and not the FY 13 right?
mr. varkey ji
yes, income tax deptt want to surety in calculation of your income.
| Originally posted by : YATISH GUPTA | ||
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mr. varkey ji yes, income tax deptt want to surety in calculation of your income. |
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Thank you! I am not sure about how to prepare the accouts as the transactions happen online (I do business online)... anyways the clerk at CA told me that he will contact the tax officer on monday. thank you once again...
Mr. Varkey Ji
Dont worry about to transaction nature. Income nature do not affect to income calculation.
Noway u can consult with your consultant.
If u need any help me than can contact me
mobile no. 9259087561
mail guptayatish88 @ gmail.com
CAclubindia
