It return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2015 in Joint saving account,an house wife is investing in FD.she is 2nd joint holder and having no income.is it mandatory to file return on interest income by she.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2015 Every individual whose total income before allowing deductions under Chapter VI-A of the Income-tax Act 1961, exceeds the maximum amount which is not chargeable to income tax is obligated to furnish his return of income. For AY 2015-16 Maximum Amount not Chargeable to Tax is:
Rs 2,50,000/- (General)
Rs 3,00,000/- (Senior Citizen – Age between 60 to 79 Years)
Rs 5,00,000/- (Super Senior Citizen – Age 80 or Above)

So there is no need to file Income Tax Return if the income is within the exemption slab as stated above.

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