SFT regarding

vikas garg (MBA) (140 Points)

15 August 2021  

My 26AS is showing SFT 05 transactions worth 15 Lacs ( 9 Lac in one bank and 7 lac in another bank). I have income from one house property and regularly file ITR. These 15 Lac I received from my spouse for investment who is salaried and already paid income tax . So i have following questions

1. While filing ITR does I have to justify it or not?

2. If yes then How to report these income in my ITR

3. What is the tax implications due to this?

4. Any other way to save above taxes

I will highly appreciate and thankful for an early reply.

 

Vikas