Dear Friends,
My friend is working in UAE, He would like to make some investments in his wife name in India. Already he has made 16Lakh term Deposits in Post Office. Now, he would like to invest further 30 Lakhs in her wife's name in the Post Office.
ITR-2 Done for her wife for FY 19-20, 20-21. But, they didn't show existing investment in ITR2 bcoz her wife Income is NIL.
Anyone can advise on this.
8 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 July 2021
Interest income should be shown in ITR
Mohanraj J
(1178 Points)
Replied 24 July 2021
Sourav Bhai, we don't need to show this investment? Interest income only enough?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 July 2021
Only Interest income on FD is taxable
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 25 July 2021
No need to show Investments in GSTR-2, only interest income will be required to show in ITR-2
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 July 2021
Interest income is enough
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 25 July 2021
Sourav, You are giving the same reply three times on this query.
Please stop and making fun of public site for sake of some points.
Please stop and making fun of public site for sake of some points.
SUSHANT BIDAYE
(597 Points)
Replied 26 July 2021
Are the clubbing provisions u/s 64 not applicable here ?
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 30 July 2021
Defilnately applicable but if such amount will as in form of loan, then not applicable.
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