Prior period income

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Bhavesh (Querist)
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08 March 2014 i am a partner in partnership firm since last two year, and i file my income tax return without adding remuneration and interest received from firm, now i want to add this income in current year it is possible, and what is process for this income?

Sandeep Dharar

Sandeep Dharar (Expert)
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08 March 2014 Yes u must add that 2 ur income, ITR-3 is applicable 4 u. U hv to add ur partnership remuneration & Interest received from firm in BP schedule, & it will reflect in business & profession income in Part-B schedule.

Bhavesh

Bhavesh (Querist)
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08 March 2014 any extra disclosure require or not because it is last two year income ?

Sandeep Dharar

Sandeep Dharar (Expert)
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08 March 2014 See u cant show the last two year income in current ITR, I was telling abt ur CY income, If u did not show it then wait 4 the order from the IT dept. if they demand then u have to pay it.

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