15 December 2015
sir my mother is 82 years old family pensioner and drawing monthly 28000. Recently I took personal loan for Rs.4 lacs and transferred in her account for doing shares trading. During this year she got profit and losses. my question is will she need to file tax return for 2015. plz.clarify.
16 December 2015
Your Mother Come under purview of Super Citizen above 80 years , Income Tax exemption Limit Rs.500000/- Up to 5 Lakh Income there is no tax.
CAclubindia
