Black money
This query is : Resolved
29 October 2011
dear sir,i have deposited 13 lac Rs. in saving account in 2009-2010 and i have not shown this amount in my incometax return and know i have received scrunity notice .please advice me can i revise my return or i declare this amount as income from others source and pay tax.or i have to pay penalty?
29 October 2011
please advise me
29 October 2011
In case you are filing personal Balance Sheet and showing the balance in the SB A/c as on 31.03.2010 in your Balance Sheet, a suitable explanation can be given by consulting your CA.
31 October 2011
U cannot revise ur return now....as it will attract penalty of 300 % of the tax evaded...so its not advised at the stage...
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