What is undisclosed money

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Sanjay (Querist)
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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%

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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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