25 July 2023
I sold a property in the year June 2021. I forgot to show income from the sale of this property. Can I show it now? will there be any penalty? If there is a penalty how much it would be? any remedy to waive of penalty?
25 July 2023
You can file updated return for AY 2022-23. Penalty will be 25% over the actual tax liability. No other option, better to file the updated return.
CAclubindia
