Itr

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Trainee

Trainee (Querist)
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03 August 2014 I forget to show my interest income from mis in last yr's itr..should I show that in this yr's??

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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03 August 2014 Dear Friend,

No you can not show last year's income in the ITR of current year.

Thanks,
Devanand

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 August 2014 As per Law if any Income was not offered for Tax in last year you have to offer the same for Tax in current year. SO yes you can show that in your ITR of current year.

Rupesh Jain

Rupesh Jain (Expert)
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04 August 2014 you can show income in related year not in any other year.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 August 2014 agreed with above replies..........................

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 August 2014 Dear Tushar above replies are contrary. Please read carefully and give your views.

Message likes : 1 times

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 August 2014 My view is, basically income has to declare in the year of it earned or received. accordingly queriest has to show the income in last year return only. if he misses he can follow the below ways

1. First try to revise the return with adding the missed out income u/s.139(5) - if it is with in the revision time limit and original return filed with in the period

2. If not, incase receiving notice u/s.142(1). while responding to the notice, assessee can declare the income with requesting A.O.before issuing assessment order

3.If the above both options are not available. as good governance, voluntarily declare current year ITR and pay the different tax.

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