Definition of misreporting income with example
sunil kumar (9 Points)
17 November 2021
definition of misreporting income with example
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 17 November 2021
Cases of misreporting of income shall be the following –
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misrepresentation or suppression of facts;
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failure to record investments in the books of account;
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claim of expenditure not substantiated by any evidence;
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recording of any false entry in the books of account;
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failure to record any receipt in the books of account having a bearing on total income; and
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failure to report any international transaction or any transaction deemed to be an international transaction or any specified domestic transaction, to which the provisions of Chapter X apply.
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