Forgot to fillup pf amount in itr-2 last year in exempt

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abhishek sharma

57 Points Posted on 01 July 2014

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.

Replies (3)

Pavan Kumar

52 Points Posted on 01 July 2014

If there is a error or omition in the return filed within the time limit u/s 139(1) then such return can be revised. time limit to file revised return u/s 139(5) ( within 1 year from the end of the Assessment year or completion of assessment, which ever is earlier) hence revice your return within that time limit.

Tribhuvan Aditya Singh

Student as well as Self-employed

3853 Points Posted on 01 July 2014

no problem my friend. since it was an exempt income so even non-mentioning of such amt wont bother the dept. much. if dept. enquires about such credit in your a/c then give them proof of such credit and everything will be fine

Pavan Kumar

52 Points Posted on 02 July 2014

if you donot fillup all the columns correctly in ITR then it amounts to wrong declaration of Income, and it can be declared as defective return u/s 139(9).