I have one queri as below:
On AY 21-22 and AY 23-24 I did few big transctions(More than 10L on each financial year) to my wife's account who is not earning and did some post office TD with her name from where some Interest also got generated(for AY 21-22 around 70k and AY 23-24 around 80K)
Now I did not show this interest amount in my itr(I filed itr for AY 21-22 and 23-24 successfully) file since i was in a notion that if wife's income is withing the exemption limit(which is 2.5L) no need to show it as my income and it will be treated as her income.
But recently I found that Income tax department has asked to file itr for AY 21-22 and AY 23-24 for my wife after registering to income tax dept site with my wife's PAN.
But for both the AY last date is over for filing.This is due to the fact that my wife's PAN is linked with wife's ph no.And she has missed the messages from income tax dept for return file .
Now my question is what to do in this junture.Since i am 55 years old and a heart patient who is thinking of retiring soon i am really worried about this discrepency.
Can I inform income tax dept the mistake I commited of not clubbing wife's income with mine.
If possible then how to inform regrading this issue.Is it through Grivence.
What should be the penalty for this mistake.
Can you please elaborate a bit how to procced furthr in this situation.
Does CA can help in this regrad.
Please let me know any other way out.
Thanks,
Koushik Das
CAclubindia
