Wheather whole income need to Disclosed
This query is : Resolved
12 July 2008
If an Individual is a Salaried Person & Receiving Prof. Fees for Part time Job. But Individual obtain PAN on Basis of Salary Income. If that individual filing his/ her IT Return by showing only Salary Income & not disclosed its Prof. Fees. Then its lead to Contravention or Not ? if Yes, then what will be its consequence ?
13 July 2008
Since u have the PAN by showing salaried person in the application form doesnot mean that u should not disclose ur other income. U need to disclose all the income earned by u.
The Consequences are penalty for escaping income, prosecution, interest
The Consequences are penalty for escaping income, prosecution, interest
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