Filling of income tax return in ay 17-18


This query is : Resolved 

26 June 2017 If Husband open FD account in Bank in his Wife Name for an amount say 20 lac, then his wife is required to file Income tax return for first time, if She is not filling her income tax return earlier ?

RAJA P M (Expert)
26 June 2017 Yes, She is going to file her ITR no more issues...

26 June 2017 whether any clubbing provisions not fall under such situation?

RAJA P M (Expert)
26 June 2017 No, ll give the Source of amount...

26 June 2017 Her Husband took FD through sale of Housing Property?

RAJA P M (Expert)
26 June 2017 If the house is Her husband name and he paid the tax liability at the time of sale.
Then he ll be treat as gift to wife...

Sunil (Expert)
26 June 2017 Clubbing provisions will apply on the income from the gifted amount, eg. interest or dividends.


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