Comment on Tradetax for income tax returns when trading

Manoj commented on 25 Dec 2016, 07:29 PM

Dear sir, I am a salaried person and doing intraday trading. I filed ITR-1 on 20 Aug 2015 for FY 2014-15. In which I shown salary income only and taken tax refund. Later I came to know that refund which I have taken is not valid. I have made huge loss in day trading. In the month of Jul 16 I received ITD notice under section 143(2) for issues related to “Securities Transaction”. Breakdown of my salary is as follows: (1) Total Income- 515229/- (As per Form-16) Shown in ITR- 417885/- (2) 80C- 150000 & 80G- 545 (3) Tax Paid- 9819 (at source) Refund taken – 9819/- I have not replied to the ITD notice. Please help me. What shall i do now?

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