Each year, the senior citizen reported the interest earned from his investments in tax-free bonds under the ‘exempt income’ category in his income tax return (ITR). But made a mistake in one year. The man realised th…

Each year, the senior citizen reported the interest earned from his investments in tax-free bonds under the ‘exempt income’ category in his income tax return (ITR). But made a mistake in one year. The man realised the error only after the deadline for filing a revised ITR had passed. He therefore approached the jurisdictional assessing officer (JAO) and filed a rectification application.

Source: The Times of India — Top Stories