Cash deposit from a doctor

This query is : Open

Gulshan (Querist)
Follow

15 November 2016 I am a general physician practicing for almost 20 years. I have never filed the returns except last year with 5 lac as income. Can I now deposit 50 lacs now and file return accordingly for the current year. What questions may come and how to manage them

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

15 November 2016 As a general physician practicing for 20 years you might have earned taxable income for all these years but not paid the tax and filed the return.
Your last year income of 5 lacs reported can't jump to 50 lacs this year. The dept will not accept any explanation from you for this higher declaration.

Gulshan

Gulshan (Querist)
Follow

15 November 2016 What about if I correct that for last 2 years also and put that accordingly in 3 years?

Gulshan

Gulshan (Querist)
Follow

15 November 2016 What about if I correct last 2 years tax return and put that as 3 year income ?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now