Definition of misreporting income with example

Cases of misreporting of income shall be the following –

1. misrepresentation or suppression of facts;

2. failure to record investments in the books of account;

3. claim of expenditure not substantiated by any evidence;

4. recording of any false entry in the books of account;

5. failure to record any receipt in the books of account having a bearing on total income; and

6. 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.