ITR
Transaction asked about was already reported in my ITR
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Facts
If the transaction is already in your return, the best reply is to show exactly where. This is the strongest defence to any information notice. Attach the filed return page and the working.
Provisions and law
- Sec 133(6) (now Sec 252(1)(a))The officer can call for information useful for or relevant to any enquiry or proceeding
- Sec 143(1) (now Sec 270(1))The return is processed and an intimation shows the tax, interest, refund or demand worked out
Analysis
Point to the schedule and line, for example 'sale of shares for ₹18,40,000 reported in Schedule CG, short term gain ₹2,10,000 taxed at 20%'. Attach the acknowledgement and computation, plus the broker statement. Many information notices close at this point because the officer only needed to confirm reporting. Keep the tone simple and factual.
Conclusion
- Download the filed return and acknowledgement.
- Mark the schedule and amount that covers the transaction.
- Attach the source statement.
- Reply stating where it was reported.
A Savvy can do this for you
Call for information, Sec 133(6) (now 252(1)(a))
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