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
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.
CAclubindia
