https://www.taxtmi.com/forum/issue?id=109442 Where no tax liability arises from previously nondisclosed income, subsequent voluntary disclosure is acceptable; if tax liability has arisen, the taxpayer must pay the tax along with interest. A genuine mistake is treated less adversely, but unexplained late disclosure harms taxpayer credibility and may invite scrutiny. en-us Tue, 24 Nov 2015 11:15:39 +0530 Thu, 23 Jan 2025 15:56:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109442 Where no tax liability arises from previously nondisclosed income, subsequent voluntary disclosure is acceptable; if tax liability has arisen, the taxpayer must pay the tax along with interest. A genuine mistake is treated less adversely, but unexplained late disclosure harms taxpayer credibility and may invite scrutiny. Discussion-Forum Income Tax Tue, 24 Nov 2015 11:15:39 +0530 https://www.taxtmi.com/forum/issue?id=109442