Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
This query is : Resolved
25 November 2024
I had salary in USA in Jan, Feb, March 2024. I have shown this in FSI and paid tax on it. My CA told me to show this in point G of schedule FA as well as it didn't have the cutoff of 31 December mentioned.
Now I have come to know that the point G follows the 31 December cutoff as well. So I should not have reported this income in schedule FA and shown only till December 31, 2023 in this schedule so for me it would have been 0.
Should i try to rectify it or it is okay? I don't want to rectify it because of form 67 and other complexities and it has already been processed. Is there anything to worry or I can just explain in case of any scrutiny.
Now I have come to know that the point G follows the 31 December cutoff as well. So I should not have reported this income in schedule FA and shown only till December 31, 2023 in this schedule so for me it would have been 0.
Should i try to rectify it or it is okay? I don't want to rectify it because of form 67 and other complexities and it has already been processed. Is there anything to worry or I can just explain in case of any scrutiny.
26 November 2024
No need of any rectification, if the salary for these months is offered to tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Liable to deduct tds and 44ADA
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
