Understated income

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2015 A person has got Salary from 3 different employers in a particular financial year. 2 has deducted TDS on his salary and 1 hasn't as it under the slab. While filing the ITR, that person has not disclosed his income from 3rd employer who has not dedcuted the tax.

The ITR was filed online and efiling status is "ITR processed". What are the good chances that his case will go in scruitiny?

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)

02 January 2015 depending mainly on the amont of salary.. as u r saying its low.. i dont think that there are too much chances of being in scrutiny...

But my recommendation is that dont do this.. because one your case falls in scruitny it wil b bad results....

Ketan Shah

Ketan Shah (Expert)

02 January 2015 In case the salary of employee is below Rs. 10.00/- lakhs chances are less for scrutiny but it is not advisable in any case to understate income to evade income tax.

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2015 The salary that he has drawn is around 7 lacs but shown as 4 lacs and understated by 3 lacs.

Last year his income was 6 lacs. Comparing the income for two years, he has shown that there is less income for current year as compared to last year.

And again it will shoot up to 8 lacs next year.

vignesh

vignesh (Expert)

02 January 2015 Greeting Mr anonymous, Good evening
It is not advisable to do so, but the chances of scrutiny depends whether the income is reflected in 26As or not
if the income is reflected in 26AS then it would come under the radar or else the chances of that looks less

vignesh

vignesh (Expert)

17 April 2015 Query has been solved

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