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Amit Oza (Querist) 16 January 2014 This query is : Resolved
hi.
i am a salaried person. and my salary comes under not taxable .as it 150000.p.a..In 2008-9 one of my friend ,has opend an tradind account with a broking frim and he was doing trading on my behalf.he has incurred a loss of 15000.and to pay that debit he has transfred stock from his account to my account and sold it.so the due was cleared.
now i have received a notice from income tax. and they have demanded follwing things

Transaction above 20000.with complete detials

and if its there why you havent file tax return for all these years.

if ur income is not taxable from where you got the money for trading ..

please suggest what should i do

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