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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Change details filed in original return
- Delay in Processing of return
- Applicability of GST on Paying Guest
- Negative liability in GSTR-3B
- Query on applicability of Small Company, CARO & IFC
- RCM PAYMENT BY SERVICE PROVIDER
- International Mutual fund redemption
- STOCK TRANSFER ENTRY IN TALLY PRIME
- 26QB form
- Admob/Adsense income
- FACELESS APPEALS
- Debt mutal fund redemption
- DEMAND UNDER SECTION 143 (3)
- GST on Rent a Car Service
- Articlehsip_temination
- Salary journal entry
- Design work
- Goods stopped by DRI department at port
- Inventory Valuation and Closing Stock entry in books and opening stock entry in books
- IGST refund with GST amendment deadline over
Trending Online Classes
CAclubindia
