Pension
Querist : Anonymous
Sir \ Madam,
suppose a person was receiving pension on account of his late wife from the year 1995 till date and also he is receiving salary from his employer which was above taxable limit(T D S deducted) since then and he had filed all his return of income for all the assessment years till A Y 2010 - 2011 not considering pension income.
now my question is
the person wishes to know what should he do
1. Pay tax on pension for A Y 2011 - 2012 as T D S on salary is already deducted and file return of income considering pension.
2. Pay tax retrospectively from 1995 along with interest and penalty if any(Please indicate amount and section under I T Act)
3. Pay tax for 8 years only since books are required to be maintained for 8 years only under I T Act.
4. File return of income considering only salary income as done for earlier years.
please help.
Querist : Anonymous
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