Filing It Return

280 views
User Avatar

45 Points Posted on 12 September 2020
i received 15000/- PM as salary in FY 2019-20 in form of cash,
can i show my salary as 29,000/-PM while filling IT return "Form 1"
1 Reply Share Follow
On 12 September 2020 at 16:12 Report
Replies (7)
Quick Summary
This discussion explores the legality and implications of declaring a higher salary on an Income Tax Return (ITR) than what was officially received in cash. Participants debate whether to declare the actual cash received or a higher amount, considering Form 16, TDS, tax liability, and the potential for a rebate under Section 87. While some suggest it's possible to declare a higher amount if below the taxable threshold, others strongly advise against it, citing legal risks and the importance of accurate reporting.

User Avatar

93 Points Posted on 12 September 2020
I guess that will depend upon form 16
whatever is your gross salary there , you'll have to show
1 Reply
On 12 September 2020 at 19:36
User Avatar

45 Points Posted on 12 September 2020
No tds deduction in my company
Reply
On 12 September 2020 at 19:59
User Avatar

574 Points Posted on 12 September 2020
Although it is wrong to show what you get and not showing properly in your ITR, still you can show your salary 25k per month as your income is much less than that which is not liable to tax.
Again I am saying it is wrong.
Reply
On 12 September 2020 at 20:13
User Avatar

45 Points Posted on 12 September 2020
But under section 87 there is rebate isn't it
Reply
On 12 September 2020 at 21:34
User Avatar

Chartered Accountant
412 Points Posted on 12 September 2020

yes you can avail rebate under 87 in this case

1 Reply
On 12 September 2020 at 21:57
User Avatar

56 Points Posted on 13 September 2020
You can show (at your own risk)
as per law it is offence
Reply
On 13 September 2020 at 01:42
User Avatar

Tax and Business Consultant
11616 Points Posted on 13 September 2020
Legally, you can't do that....
Reply
On 13 September 2020 at 10:46

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Partnership tax audit query
  2. ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
  3. Form 146 foreign remittance us citizen
  4. GST 16(2) notice
  5. Which GSTR-1 upload error do you hit most often?
  6. Need advice regarding accounting fees
  7. Is it possible to get a refund for an accidental o
  8. ITR-3 Section P&L - speculative income - no bo
  9. Foreign Assets reporting
  10. Build corpus in HUF

More recent discussions | Post

Related Topics :

Loading