I forgot to mention the details of the gratuity received of my client who was a non-government employee, now an NRI.
the gratuity received is exempt, and the return was filed u/s 139(4) of NRI. i.e. a belated return, and as we know that a return filed u/s 139(4) cannot be revised. I should have shown it under the tab EI in row 5, other exempt income, but somehow in a hurry, missed it.
So, PLEASE CAN ANYONE LET ME KNOW THE CONSEQUENCES, IF ANY.. !!
even if you have selected the return u/s 139(4) , the return will be treated as filed u/s 139(1)
the advice which can be given is go ahead and revised the return of income and include the gratuity as exempt income.
then you have no other option but to file a letter with ITO and send this information.
However the same will not be treated as part of return.
The letter is only a disclosure but not accompanied by a return.
There are no consequences as the income is exempt.
I am having one query where in the retun i must write the Interest paid on Home Loan in ITR 2 ???
As whenm i enter it in the House property sheet it is not taking in the total income??
well i am putting my value there only but it not been taken in the total i.e row 89
Where Total of A + B and All i is written it is considering only A and B and not i
CAclubindia
