Income under section 115bbe

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Sushant Mahajan (Querist)
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25 June 2013 Can income be offered voluntarily by filing return declaring income under section 115bbe by paying 30% tax to avoid penalty?

Please reply.

Rupesh Jain

Rupesh Jain (Expert)
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26 June 2013 YES YOU CAN DO THIS U/S 115BBE

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Sushant Mahajan

Sushant Mahajan (Querist)
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26 June 2013 Thank you sir.

Can u please guide me which itr will be applicable on doing so, and under which head, this income will be shown while preparing the tax return?

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Rupesh Jain

Rupesh Jain (Expert)
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26 June 2013 this is show in income from other sources

and pay 30% income tax on it.

tax on remainin income will calculate as per normal proceudre

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Sushant Mahajan

Sushant Mahajan (Querist)
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26 June 2013 thank you sir.