hi,
last year, I forgot to mention PF-return and mutual fund return both in ITR-2. both were part of exempt income. I haven't got any notice from income tax department regarding this. But, just I want to know that if in future the tax department comes to know about it then what action they can take against me. Please note that this income was exempt income so I haven't paid less tax, I have paid the expected tax only, just I have fogotten to mention it.
One of my friend told me that if tax department asks me about this then I can revise the ITR and then there will not be any problem.
Please guide.
CAclubindia
