Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency

Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency https://www.taxtmi.com/news?id=17077 The provision for filing a revised return under section 139(5) is limited to correcting an omission or wrong statement in the original return and is not to be used to alter the form, substance or quantum of previously declared income to reflect current-year undisclosed income; misuse by manipulating income, cash-in-hand or accounts may invite scrutiny and attract penalties or prosecution. en-us Wed, 14 Dec 2016 14:12:11 +0530 Wed, 14 Dec 2016 14:12:11 +0530 TaxTMI RSS Generator Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency https://www.taxtmi.com/news?id=17077 The provision for filing a revised return under section 139(5) is limited to correcting an omission or wrong statement in the original return and is not to be used to alter the form, substance or quantum of previously declared income to reflect current-year undisclosed income; misuse by manipulating income, cash-in-hand or accounts may invite scrutiny and attract penalties or prosecution. News - Wed, 14 Dec 2016 14:12:11 +0530 https://www.taxtmi.com/news?id=17077