01 July 2008
Assessee has filed his return for AY 2007-2008 u/s 139(1)of Income tax act under the head income from PGBP and the same income could also be treated as income under the head other sources.can the assesse change the head of income in subsequent years i.e instead of filing income income u/h PGBP can income be filed u/h other sources? your assistance will be highly appreciated?
03 July 2008
IT ALL DEPENDS ON NATURE OF INCOME.......IF IT IS IN FACT INCOME FROM OTHER SOURCES THERE IS NO HARM IN SHOWING CORRECT HEAD OF INCOME IN SUBSEQUENT YEARS...........AN ERROR WILL BE DISCONTIUED
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