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How to correct past mistakes


Hemendra Vyas   24 October 2020

Hemendra Vyas

 11 points

| My Other Post

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.

avater

MAHARAJA SELVA ESWAR   24 October 2020

MAHARAJA SELVA ESWAR

 15 likes  279 points

View Profile | My Other Post

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

JATINDER KUMAR (Accountant)     24 October 2020

JATINDER KUMAR
Accountant 
 172 likes  2416 points

View Profile | My Other Post

Don't worry

No penalty payable by you

avater

ayusmita (Tax consultant)     25 October 2020

ayusmita
Tax consultant 
 163 likes  2319 points

View Profile | My Other Post

Tds being cut out from that


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