income of 16-17 remained untaxed to some extent, return is filed on due date but is not taxed fully & revision also cannot be done as the period is expired. Is there any other option?
how do I pay tax on it now?
Menu
income escaped taxed by mistake.
Replies (4)
In normal course there is no option left to revise your return except waiting for the notice of scrutiny that may be sent by the department if they find the escaped income. Then only you you can file the return as per your revised income in reply of the notice.
Beside this, you may contact with the jurisdictional AO and tell the matter, then do whatever he suggests.
A suggestion from my end that show your untaxed income in current year if scrutiny comes in future than you may can have a stand that you have shown that income next year
Suggestion of other experts are also welcome
Suggestion of other experts are also welcome
Pay now and if notice comes clarify it and pay int upto this date
file rectification application, explaining the circumstances under which you failed to include the escaped income in your ROI so that at least you will get immunity from penalty and prosecution
Recent Topics :
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
- Would you use a free, open-source alternative to s
Related Topics :
CAclubindia
