Share trading transactions
vipul shah
(Querist) 15 February 2013
This query is : Resolved
MY CLIENT A LADY WORKING IN A PUBLIC SECTOR BANK-ON HER NAME HER HUSBAND HAS DONE SHARE TRADING TRANSACTIONS I.TAX DEPT.ISSUED NOTICE RAISING SOME POINTS REGARDING SHORT TERM-LONG TERM CAP.GAINS AND REG.SECTION 44 AB I HAVE SOLVED ALL IN LOCAL LEVEL WITH A.O. BY SHOWING BOOKS OF A/CS IN 2010.RECENTLY COM.OF I.TAX ISSUED NOTICE U/S 263 FOR NON CMPLIANCE OF SECTION 44 AB NOW WHAT TO DO? AS TURNOVER DOES NOT EXCEEDS 40.00 LACS HOW TO EXPLAIN THEM?
ajay sethi
(Expert) 15 February 2013
raise query in CA club India .com
R.K Nanda
(Expert) 15 February 2013
agree with Sethi.
Advocate Ramesh
(Expert) 15 February 2013
for what year they asked. If the same 2010 year, then show the account statement to them also
Raj Kumar Makkad
(Expert) 16 February 2013
Wife cannot be exonerated from the contents of the notice and she shall have to face its consequences if her husband was doing this trading in her knowledge.
