Clubbing of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2014
In A.Y.2013, I had given some amount to my wife for investment, but she did not invest & just kept in Bank FD & earned some interest. She is a housewife & has no income. Before the year end she gave me back the whole amount.
Now, in my IT return along with my income, I had added the income received by my wife as bank interest in my income, but I have not done any bifurcation that this is my income & this is my wife's income, but I had showed honestly what income I had received. I did not have any tax liability to pay.
I have not hidden anything. Now my A.Y.2013 ITR is not processed yet. It just shows as ITR received. It's 12 months now & not processed.
Could this be reason for delay in processing?
Please let me know in detail. Thank you.
Now, in my IT return along with my income, I had added the income received by my wife as bank interest in my income, but I have not done any bifurcation that this is my income & this is my wife's income, but I had showed honestly what income I had received. I did not have any tax liability to pay.
I have not hidden anything. Now my A.Y.2013 ITR is not processed yet. It just shows as ITR received. It's 12 months now & not processed.
Could this be reason for delay in processing?
Please let me know in detail. Thank you.
Nikhil Kaushik
(Expert)
14 July 2014
you dont have to worry. sometimes processing of returns do get delayed. there is no reason to worry at all.
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