NRI filing IT returns as Resident Indian for several years

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2011 NRI filing IT returns as Resident Indian for several years
1. consequences
2. how this will be treated
3. legal action from authorites
4. penalty
5. how this can be sorted out

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

09 February 2011 1. Prosecution can be initiated u/s.277 of the Income tax Act,1961.
2. Returns not barred by time may be revised at the earliest.

Guest

Guest (Expert)

09 February 2011 It is the matter of evasion of tax too and therefore, revise latest one or two returns if possible to be revised. Apart from prosecution , there will be proceeding u/s 148 and you may be suffer penalty and prosecution.

Upgrade to CAclubindia Pro. Subscribe Now!