Itr
This query is : Resolved
03 August 2014
I forget to show my interest income from mis in last yr's itr..should I show that in this yr's??
03 August 2014
Dear Friend,
No you can not show last year's income in the ITR of current year.
Thanks,
Devanand
No you can not show last year's income in the ITR of current year.
Thanks,
Devanand
03 August 2014
As per Law if any Income was not offered for Tax in last year you have to offer the same for Tax in current year. SO yes you can show that in your ITR of current year.
04 August 2014
you can show income in related year not in any other year.
04 August 2014
agreed with above replies..........................
04 August 2014
Dear Tushar above replies are contrary. Please read carefully and give your views.
Message likes :
1 times
04 August 2014
My view is, basically income has to declare in the year of it earned or received. accordingly queriest has to show the income in last year return only. if he misses he can follow the below ways
1. First try to revise the return with adding the missed out income u/s.139(5) - if it is with in the revision time limit and original return filed with in the period
2. If not, incase receiving notice u/s.142(1). while responding to the notice, assessee can declare the income with requesting A.O.before issuing assessment order
3.If the above both options are not available. as good governance, voluntarily declare current year ITR and pay the different tax.
1. First try to revise the return with adding the missed out income u/s.139(5) - if it is with in the revision time limit and original return filed with in the period
2. If not, incase receiving notice u/s.142(1). while responding to the notice, assessee can declare the income with requesting A.O.before issuing assessment order
3.If the above both options are not available. as good governance, voluntarily declare current year ITR and pay the different tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
