Please Help: Income Tax
Posted Date : 26-Apr-2012 , 08:23:52 am | Posted By shashank kumar
whether any exempted incomes (e.g. gift from relatives) are not included in incometax return are treated as a black money
Category : Income Tax | Answers : 7 | Comments : 1 | Hits : 198
Answers
Answer By: Vikash Kumar Jha
yes.
Answer By: Madhu Kiran
Yes..! It should be shown under the category of Exempted Income while filing the Income Tax Returns otherwise it would not be considered as white and will be considered as an Undisclosed Income
Answer By: CA VIPIN GARG
Completely agree with the above two answers, it must be shown in the return as exempted income.....
Have a nice day......
Have a nice day......
Answer By: CA Richa Gupta
yes, as if u will not show in your return of income you will not be able to ans income tax authorities why you have not shown it as income (even exempted) in ITR. AS this is against the provision of income tax.
Answer By: CA Satuti Mahajan
Yes even if the income is exempt, then it is also necessary to show in the return.
Answer By: Rambabu Senkarasetti
yes
Answer By: Rambabu Senkarasetti
yes
Comments
CA. SURESH Kr. AGARWAL
02-May-2012 , 10:28:59 amI agree with the views of the above answers. One should show it in their ITR else it will be treated as a black money.