09 March 2017
Mr. A and Mrs.B are husband wife. Mr. A used to file return regularly. Mrs.B doesnt have taxable income so she dont file return. In F.Y.2014-15, Mr.A and Mrs. B purchased and sold property above Rs.30Lacs. Mr. A claimed expemtion in his return. However, Mrs.B doesnt hold any taxable income and she got notice from department through AIR-06 for purchase of property above 30lacs even though the entire property was financed by Mr.A and Mrs B. name was incorporated in agreement only for safety measures.
While Filing Compliance online, only below mentioned options are given :- Self Expenditure/ Investment is out of exempt income. Self Expenditure/ Investment is out of accumulated Savings. Self Expenditure/ Investment is out of gifts/loans. Self Income from transaction is exempt. Self Expenditure/ Investment is below taxable limit.
However, Mr. A has invested entire funds and Mrs. B name was entered only as joint purchaser. While filing Compliance, there is no such option given in compliance window.
Please suggest what option from above need to be selected.