Hi Experts,
I have some Question.
1.If someone who is a Govt Employee receives commuted pension and forgets to disclose it in ITR 1, Then what is procedure to correct ? Revised Return??
2. IF Revised Return then what to be written in Others Column (Nature of Income)? (Sec 10(10A) or Commuted Pension )??
Kindly reply ASAP
Thank you
As the commuted pension received by Government employee is fully tax-exmpt u/s. 10(10A).....
1. May correct by revised return... or may not.....
2. Simply fill the amount in Schedule EI
.......5 Others, including exempt income of minor child............... 5 XXXX
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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