Understated income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2015
A person has got Salary from 3 different employers in a particular financial year. 2 has deducted TDS on his salary and 1 hasn't as it under the slab. While filing the ITR, that person has not disclosed his income from 3rd employer who has not dedcuted the tax.
The ITR was filed online and efiling status is "ITR processed". What are the good chances that his case will go in scruitiny?
The ITR was filed online and efiling status is "ITR processed". What are the good chances that his case will go in scruitiny?
02 January 2015
depending mainly on the amont of salary.. as u r saying its low.. i dont think that there are too much chances of being in scrutiny...
But my recommendation is that dont do this.. because one your case falls in scruitny it wil b bad results....
But my recommendation is that dont do this.. because one your case falls in scruitny it wil b bad results....
02 January 2015
In case the salary of employee is below Rs. 10.00/- lakhs chances are less for scrutiny but it is not advisable in any case to understate income to evade income tax.
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2015
The salary that he has drawn is around 7 lacs but shown as 4 lacs and understated by 3 lacs.
Last year his income was 6 lacs. Comparing the income for two years, he has shown that there is less income for current year as compared to last year.
And again it will shoot up to 8 lacs next year.
Last year his income was 6 lacs. Comparing the income for two years, he has shown that there is less income for current year as compared to last year.
And again it will shoot up to 8 lacs next year.
02 January 2015
Greeting Mr anonymous, Good evening
It is not advisable to do so, but the chances of scrutiny depends whether the income is reflected in 26As or not
if the income is reflected in 26AS then it would come under the radar or else the chances of that looks less
It is not advisable to do so, but the chances of scrutiny depends whether the income is reflected in 26As or not
if the income is reflected in 26AS then it would come under the radar or else the chances of that looks less
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