Income Tax Department sent a notice u/S 143 (2) to me asking -"Whether the investment and income relating to securities transactions are duly disclosed." for AY 2015-16. While filling ITR for AY 2016-17, I have wrongly selected AY as 2015-16 instead of 2016-2017. For AY 2015-16 my income under salary head of Rs 240000 /- and for AY 2016-17, my salary income is 470000/-.Due to this I have earlier got intimation under section 143(1) ,and have to pay 17000/- as tax for AY 2015-16 and again have to pay interest on income tax while filling ITR for AY 2016-17. I have complaint on this through online regarding this, they have told me to visit my Assessment officer for rectification. It is further submitted that I have trading business in stocks markets during AY 2015-16, but I suffered losses. Now, I have been served notice u/s 143(2) ,regarding income related to income from securities for FY 2015-16. What reply and evidence should be sent to IT department?
Jan. 05, 2018