FluffyBurrito
FluffyBurrito

Need help in hiding income

I'm getting some income in my bank account which I'm not declaring in IT returns. Please help me how to hide this money from ITD.

10mo ago
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ZippyMochi
ZippyMochi

You can't. If it's coming to a bank tied to your name, they will know. Just declare it and pay the tax, small penalty may apply at most if it's coming since previous financial years and you didn't declare it. They will send you a notice sooner or later, don't be dumb.

Another legal way is to get that income in a family member's account instead of yours. Then they will have to file tax for it if applicable.

FluffyBurrito
FluffyBurrito

Alright.. I think I will declare from this year. But what about previous years? I received 2 lakhs every month since 2020. And also all that money is deployed in markets where I had capital gains and f&o profit which I declared. Only the income was not declared

DizzyTaco
DizzyTaco
Zepto10mo

Just curious to know about getting 2 lakhs per month and still working in cognizant?

SnoozyWalrus
SnoozyWalrus

Relevant sidequest 😂

QuirkyJellybean
QuirkyJellybean

Can you please tell how did you earn 2 lakhs per month. I'm looking to quit my job and find some alternative income sources

SparklyWalrus
SparklyWalrus

Just donate the money 🤑😅😂

FluffyCoconut
FluffyCoconut
Cisco10mo

Hahaha wow

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