Menu
income tax
An assessee has concealed an income for the AY 2015-16 and filed his return of income. Time for revised return is already expired. Now when the income tax department has raided co- operative banks, they found deposits of the assessee, which does not match with the income returned. What is the further procedure?
Replies (10)
Isnt possible to revise the return?
Are you telling that tax payer needs to assess his tax and pay tax just by a challan? Will that complete the procedure?
But we need to show the details of the income isn't it? Can we show the concealed income through a letter and it's workings?
They haven't raised a demand.
Can you give reference to the sections?
Thank you samir
Recent Threads
- Gstr3b relationship
- Section 194T – TDS on Payments to Partners:
- Tax planning with HUF
- FCN ( Financial Credit Notes) Treatement in Books
- Indemnity bond notarization for Income Tax (NRI ou
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
Related Threads
CAclubindia
