Undisclosed income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2016 Hello friends
How an individual can disclose his income, pay tax and file return which was not shown since last 10 years. Also no records are maintained by the assessee. Income of Some years could be below exemption limit as the business is small retailing store.
Can such income be disclosed through IDS?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

19 September 2016 have you ever come across with the TOPIC called as Preparation of accounts from INCOMPLETE records? Please go through the same and try to formulate the balance sheet.....(You can use your best judgement for deducing some of the figures.)

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2016 Thankyou so much sir got a good hint 😊

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

19 September 2016 you are most welcome

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok