Income tax return for fy 2013-14 & 2014-15

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Raghav (Querist)
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05 January 2016 Dear Sir,

My sister had applied for PAN which has been allotted to her. Can she file the return of her Income related to FY 2013-14 & 2014-15. The only objective of filling of her return as she has net income of Rs 2.50 Lakhs and she required home loan so required two years ITR by bank.

Please suggest the same.

Ankur Singhal

Ankur Singhal (Expert)
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05 January 2016 Dear Raghav
Yes you sister can file income tax return for both the years.
But see that the taxable income of FY 2013-14 should not exceed Rs. 200000/- otherwise penalty of Rs.5000/- will follow.

Raghav

Raghav (Querist)
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05 January 2016 Dear Sir, Thank you so much. This 2 Lakhs is for gross income or the net taxable income.

Ankur Singhal

Ankur Singhal (Expert)
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05 January 2016 Dear its net taxable income.

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