A user is asking if they can declare a fake extra income of ₹2.5 lacs on their Income Tax Return (ITR), despite their actual taxable income being around ₹2 lacs. They believe they will be exempt from tax liabilities. However, advice suggests this could lead to trouble if questioned, particularly without supporting bank entries. If there are bank transfer entries, it might be less problematic.
25 June 2023
My taxable income is around 2 lacs , can I show fake extra/other income of 2.5 lacs while filling ITR? whatever the case I am exempted from tax liabilities.