Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2014 I have query that i have received notice under section 148.for A.Y.2012-13.in A.Y.2012-13 there is undisclosed income of rs.3,00,000/- than which remedy available to me whether can i voluntary disclose this income addition to income disclosed in income tax return for A.Y.2012-13?? any penalty imposed on me?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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05 August 2014 once 148 is issued, where is the scope for voluntary disclosure!!!

penalty implications depend on the AO. It is always at his discretion

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