Consequences of not filling air schedule of itr-2
This query is : Open
07 January 2012
I had purchased immoveable property of of high value and fails to disclose the same in my annual return in Schedule-AIR of ITR-2 and the same mistake i committed since last 3-4 years continually.
Kindly let me know the consequences of the same and also suggest remedy available.
Now department caught my all records. Altough i had never booked any income being all transactions were of purchase not of sale.
Kindly expedite your suggestion.
Kindly let me know the consequences of the same and also suggest remedy available.
Now department caught my all records. Altough i had never booked any income being all transactions were of purchase not of sale.
Kindly expedite your suggestion.
08 January 2012
This is not a case of concealment of income. No penalty can be levied.
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