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Sandeep (firm)     26 November 2014

Itr for ay 2010-11

My dad a retired govt servant didn’t received any pension or salary during FY 2009-10 (AY 2010-11). I had transferred Rs. 90,000/- into his accounts. Out of his savings and earnings from interest on investments he purchased shares for more than Rs. 1,00,000/- in that year. Since he didn’t had any taxable income he didn’t filed ITR for AY 2010-11 (ignoring the condition that if more than Rs. 1,00,000/- is invested in shares ITR has to be filed).

Now following notice has been received from IT dept “As per our records, it is observed that you have not filed your Income Tax Returns. Please login to https://incometaxindiaefiling.gov.in. and submit details under Compliance module”.

How can he file ITR for AY 2010-11 now and under which section should he file it now.  There is no tax to be paid.

Sandeep



Learning

 2 Replies

NARAYANAN.P.POTTY (ADVOCATE)     26 November 2014

Dear Sandeep,

Since your aqnnual income is less than the exemption limit,there is no need file ITR for 2010-11.

Regards

1 Like

Advocate Vipin Raturi Delhi (ADVOCATE )     26 November 2014

Sandeep Ji,

First you need to understand why have your father receive notice.

1. In case you have not filed your return  for particulare assessment year.

2.  Registered your PAN this portal . https://incometaxindiaefiling.gov.in 

3. Please update the details such as there are no taxable Income during the Financial Year -2009-10.

4.Instead of Filing  of return  send a letter to the A.O.( Assessing Officer) explaining there is no Income for  F.Y. 2009-10.

There are other reason Assessee receing notice as follow.

1.  Cash Deposit worth Rs. 10 lakh or more in year.

2. Credit card Purchase 2 lakh or more

3. Mutual fund Investment 2 lakh

4. Purchase Bonds and debenture worth Rs. 5 Lakh or more in a year

5.Sale or purchase of property Worth Rs. 30 Lakh or more.

 

VIPIN RATURI

ADVOCATE

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