Hello Friends,
Normally people with income below exemption limit puff up their ITR (without tax liability, heh heh!) for getting Housing loan etc...
In such a case, can the AO impose penalty for furnishing false information?
Menu
Untrue information?
Replies (1)
Dear G.K. Anna.............
I completely agree with U....
But, I dont think that the AO can impose any penalty for disclosing false income(i.e.higher income)..........
Is there anyone taking note of it (i.e. the query raised)?????????
Recent Threads
- Un claim ITC
- Form 49AA - OCI card holder applying for PAN card
- Section 54f and Sale between father and Son.
- Demat of shares of private limited company
- Income only with share market around 5-6 lack
- Missed GST Reporting for March 2025
- Future and Option Turnover
- Outstanding demand
- Error in filing income tax return
- DRAFT - DIRECTOR's REPORT OF BASE LAYER NBFC
Related Threads
CAclubindia
