I have filed my income tax return for the a.y. 2011-2012 as on date 31 july i had not shown exempt income from gapital gain in return and some interest part of income in return so please tell me any penalty may be arise by the income tax department.
04 March 2014
yes, if in scrutiny AO finds that capital gain EXEMPT and interest not shown on ROI then AO will deemed your return is invalid return and impose penalty as he thinks fit.
CAclubindia
