Procedure for payment of tax
CHAITRI SUDHAKARBHAI KHAROD (ARTICLE) (752 Points)
28 April 2020
what is the procedure for payment of tax on undisclosed income???
7 Replies
P-SAC
(Partner)
(152 Points)
Replied 28 April 2020
Dear Sir,
There is no separate form or link available to pay taxes on undisclosed income.
CHAITRI SUDHAKARBHAI KHAROD
(ARTICLE)
(752 Points)
Replied 28 April 2020
If there is no separate form and link then how is it paid???
Kiran Hathalia
(837 Points)
Replied 28 April 2020
Have you applied through Income declaration scheme??
CHAITRI SUDHAKARBHAI KHAROD
(ARTICLE)
(752 Points)
Replied 29 April 2020
No...because I don't know the actual procedure
Kiran Hathalia
(837 Points)
Replied 29 April 2020
Actually the time limit for filing the Form 1 for declaring undisclosed income under Income declaration scheme, 2016 has elapsed on 31st January 2020. Hence, you will not be able to disclose the income through that way. What my opinion is to meet the concerned Principal Chief Commissioner or Principal Commissioner and try to explain them the issue. If you get the positive response from them, then go ahead with the procedure prescribed by them. But if you don't get the desired response, then better wait till any notice to be served on you for that income.
CHAITRI SUDHAKARBHAI KHAROD
(ARTICLE)
(752 Points)
Replied 29 April 2020
Ok got it....it's can be applied through form 1...
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