Hi, I have a grave issue regarding ITR Filing for one of my friends and it may put his job at stake. He has been working in one of the top MNCs (Capgemini, TCS, etc) for 4 years and has not filed his taxes so far, as his income was < 4LPA.
In 2023, his income went up to 7LPA and thereafter when he went to file taxes, he found that it was showing two incomes :
1. From his employer's monthly salary
2. Another income shown as professional income - he allowed his own brother to use his PAN Card for one year for a temporary job and all those statements were done under his name 🤦
He had no idea that PAN should not be given to anyone else for use
Now, if he files his income showing all of that as his own income (Salaried individuals) to his employer, will that be tracked by his MNC? Do companies like TCS, Genpact etc use such financial tracking software to monitor employee Tax ITR sources? Should he just not file the return for AY-24-25?
As per policies, this will be counted as moonlighting. Please guide ASAP.
From India, Kolkata
In 2023, his income went up to 7LPA and thereafter when he went to file taxes, he found that it was showing two incomes :
1. From his employer's monthly salary
2. Another income shown as professional income - he allowed his own brother to use his PAN Card for one year for a temporary job and all those statements were done under his name 🤦
He had no idea that PAN should not be given to anyone else for use
Now, if he files his income showing all of that as his own income (Salaried individuals) to his employer, will that be tracked by his MNC? Do companies like TCS, Genpact etc use such financial tracking software to monitor employee Tax ITR sources? Should he just not file the return for AY-24-25?
As per policies, this will be counted as moonlighting. Please guide ASAP.
From India, Kolkata
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