an individual purchase flate jointly named with his spouse by availing home loan on joint name.
he filed his return in ITR 3 showing 50% share of flate and 50 % loan liability.
can spouse file ITR 1 OR 2 without maintenance of books which results in not to disclose 50% value of asset as well as 50% loan liability in ITR..??
2 Replies
Kapadia Pravin
(17259 Points)
Replied 30 August 2019
If there is no other oncome in your wife's name then no need to file return as her 50% in the flat will be SOP and hence no income and exempt.
Dimpi Sharma
(Job)
(60 Points)
Replied 30 August 2019
Hi, Good Morning Everyone. Income Tax Return filing is mandatory for those people especially whose salaries have to be increased according to the prescribed limit of Income and it completely comes under the Income Tax Act 1961. Nowadays there are many of the online business platforms has come which is usually deals in the Income Tax Return Filing and many more things. According to me as compared to the other platforms Tradenfill is the best ever because they provide the amazing and quick services to their customers at affordable prices without any complaint. I have also an experience of visiting this platform so that's why after that I could trust them.
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
