How to correct past mistakes

303 views 3 replies

Hi,

I have been transferring my additional savings in my mother's bank account since last 5-6 years. 

I did fix deposits of those amount on my mother's name on which she got interest.

My mother is a house wife and senior citizen and is in 0% tax bracket.

I did not file her ITR and not shown interest income even in my ITR.

Now I am worried and want to correct my mistake.

How can I do it and how much penalty I need to pay?  

Please help.

Thanks in advance.

Replies (3)
You can file a belated return for f.y 18 - 19 , and a usual return for f.y19 20 , it should be shown under income from other sources and deduction is available under 80 ttb upto rs 50000
Don't worry

No penalty payable by you
Tds being cut out from that

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