Hi - My wife had made some short term gain by selling shares. Her total income from share + FD interest is less than 1 lac.
Does she still have to file a income tax return ? Plz suggest.
2 Replies
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 22 June 2009
Mr.Jignesh
As per the provisions of section 139 (1) (b) of Income-tax act, 1961 your wife need not file any return of income as her total income for the year under consideration has not exceeded the exempted limit. Any how it is better to file the return of income. You can show the records for availing any loans from banks etc., Before filing the return of income you must keep ready all the information regarding the sources of income etc., . After filing the return of income IT authorities may ask for those details.
Best Wishes
Sathikonda
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 22 June 2009
As per Income tax Act, it is not mandatorily required to file income tax return if gross income is less than exemption limit. But you can can file if you wish.
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
