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What's the most you got back in income tax?

Have dmet account but have no income or profit , should i have to fill income tax return ?got notice for that?

  • I got notice from income tax department for filling the return. I have Dmet account but I have no income source and i also didnot get profit from Dmet account . Should i have to fill ...show more

  • Answer:

    Sheetal you are an unemployed person OK. But you will have to file your return of income. You will have to explain the source of your yearly expenses spent for maintenance of household. Its not possible that you have no income. Be clear that income earned is taxable not the money saved. If you earned 10 lacs and spent the whole amount you are liable to pay tax on this amount earned. Your savings bank account interest, of course beyond Rs.10000/- for the 12-13 is also your income. And that your income is below the maximum not liable to tax is another case. But do file your return.

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May be you have invested more amount in shares. Or you have done some good turnover by selling and purchasing the shares (Shares trading). That must be the reason. Anyway you have received a notice. You have to file your returns. First list out how much amount you have invested, how you got that money. Next list out how many shares you and purchased and how many shares you have sold and its profit & loss. After that go to a CA (Income Tax consultant- Auditor) and show the notice. He will do the needful. Do not worry. Nothing will happen as long as your income is below taxable. Also do not worry about 3 days time. You can take some more time.

N J Reddy యన్.జే.రెడ్డి

even though you are an unemployed person, You kept some investment in demat account and did share trading. How did you bring the money is important. Any how you received a notice from them, then you should appear before them and explain what they has to be asked

srinivasarao

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