How to avoide tax on my income

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shobhit (Querist)

30 July 2016 DEAR SIR,

DUE TO 9 LACKS INCOME IN MY SAVING BANK ACCOUNT I HAVE RS 35380 INTEREST INCOME. DUE TO WHICH I AM GETTING TAX LIABILITY OF 3000 APPROX...

IF I DOESNT FILE RS 10000 INTEREST INCOME WHILE PREPARING RETURN FOR AY- 16-17, THEN I CAN AVOIDE TAX OF THIS RS 3000..

I KNOW THAT IS NOT A RIGHT WAY TO DO THAT TO AVOIDE TAX. BUT ACCORDING TO YOUR PAST EXPERIENCE DO INCOMTAX DEPARTMENT GO THAT DEEP TO FIND OUT MY EXACT INTEREST INCOME...I WANT TO BYEPASS THAT YEAR WHITOUT PAYING TAX...
THANX.

suresh

suresh (Expert)

30 July 2016 it is advisable to reflect the correct figures of your interest income. It will be wrong ad risky as well to hide it just for small amount of tax you may attract the concelament penalty if the same is found later on.

shobhit

shobhit (Querist)

30 July 2016 i only wants to hide rs 10000 interest income.....otherwise i am filing full details of my form 16.

CA ABHAY GUPTA

CA ABHAY GUPTA (Expert)

30 July 2016 are you taking deduction under section 80TTA OF Rs 10000/-

shobhit

shobhit (Querist)

03 August 2016 YES ABHAY SIR I AM TAKING THAT DEDUCTION....STILL I WILL HAVE TO ADD RS 25000 IN MY INCOME.

CA ABHAY GUPTA

CA ABHAY GUPTA (Expert)

03 August 2016 as per your query yes it is not good to do such things

CA ABHAY GUPTA

CA ABHAY GUPTA (Expert)

03 August 2016 as per your query yes it is not good to do such things to avoid tax but still from my past experience income tax department will not go on such deep to find accurate amount of interest earned..

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