Category of income under i.t. act
This query is : Resolved
29 June 2015
Dear Sir,
My query is that a female assesse aged about 45 years have filed a divorce petition against her husband and court has ordered the assesse's husband to give a certain amount of money to the assesse every month which the assesse receives vide ECS in her personal savings bank account. The amount received in this F.Y. 2014-15 is under the tax slab of Rs. 2.50 Lacs to Rs. 5.00 Lacs. My question is whether the amount received is taxable under the I.T. Act and whether the assesse needs to file a return and if yes then under which head the income will come and which ITR needs to be filed for this kind of income.
Please suggest at the earliest. I am waiting for your reply.
Thanking you in advance,
Abhishek Roy Choudhury.
My query is that a female assesse aged about 45 years have filed a divorce petition against her husband and court has ordered the assesse's husband to give a certain amount of money to the assesse every month which the assesse receives vide ECS in her personal savings bank account. The amount received in this F.Y. 2014-15 is under the tax slab of Rs. 2.50 Lacs to Rs. 5.00 Lacs. My question is whether the amount received is taxable under the I.T. Act and whether the assesse needs to file a return and if yes then under which head the income will come and which ITR needs to be filed for this kind of income.
Please suggest at the earliest. I am waiting for your reply.
Thanking you in advance,
Abhishek Roy Choudhury.
29 June 2015
Maintenance money received is not taxable income.
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29 June 2015
Dear Sir,
The assesse wants to file the return with this income so if i file can it be of any problem and if no which itr needs to be filed and under which head i will give this income in itr.
Please suggest as early as possible. Waiting for your suitable reply.
Thanks,
Abhishek.
The assesse wants to file the return with this income so if i file can it be of any problem and if no which itr needs to be filed and under which head i will give this income in itr.
Please suggest as early as possible. Waiting for your suitable reply.
Thanks,
Abhishek.
29 June 2015
Maintenance money received is not income at all and need not be disclosed in the ITR. Rest assured that there will be no problem at all on this account. Amount received by wife from her husband for meeting expenses is referred to as pin money and not considered as income.
29 June 2015
Even after the divorce alimony received will not be treated as income and need not be disclosed in ITR.
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30 June 2015
Dear Sir,
I have understood what you have said and thankful to you but one last question if you reply that I have told her about your reply but still she asked me that if it is possible to file the return because she wants to file the return. If it is possible then which return needs to be file and under which head. One last query from my end that if she disclose that income in ITR by having full knowledge then I think there will be no issue from the part of the department as because she is not supressing any income. Please suggest whether I am correct or not. Waiting for your suitable justification regarding this matter.
Thanks,
Abhishek Roy Choudhury.
I have understood what you have said and thankful to you but one last question if you reply that I have told her about your reply but still she asked me that if it is possible to file the return because she wants to file the return. If it is possible then which return needs to be file and under which head. One last query from my end that if she disclose that income in ITR by having full knowledge then I think there will be no issue from the part of the department as because she is not supressing any income. Please suggest whether I am correct or not. Waiting for your suitable justification regarding this matter.
Thanks,
Abhishek Roy Choudhury.
30 June 2015
No she cannot file return for this particular receipt because this is not income at all. Please explain to her that this is not income at all and hence it cannot be show in any column of any ITR. The income-tax department cannot accuse her of suppressing income as this is not income at all. A person can have income from five heads of income:
(1) income from salaries
(2) income from house property
(3) profits & gains of business
(4) capital gain
(5) income from other sources
Provisions are made for what can and cannot be taxed under each head of income and there is no provision for showing maintenance money under any head of income. So it cannot be done.
(1) income from salaries
(2) income from house property
(3) profits & gains of business
(4) capital gain
(5) income from other sources
Provisions are made for what can and cannot be taxed under each head of income and there is no provision for showing maintenance money under any head of income. So it cannot be done.
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