Hiding bank accounts
This query is : Resolved
16 December 2014
plz let me know what are the consequences and risks involve if a person hides his current account from income tax.. actually the person was cheated by someone and his bank account was used by some one else, and transactions were done around upto 1 crore ..now he is filing IT first time & he doesn't want to show in his books of accounts
16 December 2014
Ignorance is NOT excuse.
If you say, someone has CHEATED.....file a POLICE case. Hope you understand the legal meaning of the word CHEAT......it is punishable under 420.
If you say, someone has CHEATED.....file a POLICE case. Hope you understand the legal meaning of the word CHEAT......it is punishable under 420.
16 December 2014
then penalty of non disclousre of true and correct particulars of income shall be imposed in ur case.
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