What is undisclosed money
This query is : Resolved
09 February 2017
What is undisclosed money or FD. Whether it is apply for money I earned by LIC commission(TDS deducted) & put into bank FD. And not included interest of FD in return. Is it attract penalty of 77%
10 February 2017
TDS deducted and put the money in FD is a disclosed money you can't file the return without disclosing the LIC commission. FD interest not included in the return is an undisclosed income. TDS applicable on such FD interest. Revise the return including the FD interest.
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