Taxpayers can pay the due tax with an updated return with interest or provide a detailed explanation about it, the official said, adding that in some cases taxpayers had not included capital gains, dividend income and completely excluded the information about their other bank accounts.
HUF’s "Made In" exhibition series landed in New York last week with Brian Anderson curating the lineup. The one-night-only event took place at 100 Sut.
Instead of an HUF, we recommend you to consider setting up a trust. In such a case, the parents can set up the trust as a settlor and other family members, including the married daughter and her children, can be beneficiaries.
Despite several representations from businesses, the income-tax department refused to extend the date for filing tax returns. Officials, however, said that the tax department will offer relief in penalty for those taxpayers who could not file their returns because of genuine difficulties.