Is itr mandatory for income below 2.5 lacs
This query is : Resolved
Parth Shah
(Querist)
17 July 2019
Hi,
My spouse has income from home tuitions and Interest from fixed deposits. Her annual income from these sources is just below 2.5 lacs (may be around 2.35 Lacs).
Do I need to file an ITR for her?
She was working in a multinational company before 7 years and has some savings.
We plan to buy a property worth 50 Lacs on her name (Primary owner) with whatever savings (around 30 lacs) she has and I (Secondary owner if required) will be adding the remaining amount (20 lacs). Will it be an issue for buying a property if we do not have any recent ITR filed for her?
My spouse has income from home tuitions and Interest from fixed deposits. Her annual income from these sources is just below 2.5 lacs (may be around 2.35 Lacs).
Do I need to file an ITR for her?
She was working in a multinational company before 7 years and has some savings.
We plan to buy a property worth 50 Lacs on her name (Primary owner) with whatever savings (around 30 lacs) she has and I (Secondary owner if required) will be adding the remaining amount (20 lacs). Will it be an issue for buying a property if we do not have any recent ITR filed for her?
Radhakrishnan K.V.
(Expert)
21 July 2019
Your spouse need not file ITR in case her income from all means is below 2.5 Lakhs.
Parth Shah
(Querist)
22 July 2019
If she does not file an ITR can I still buy a property on her name with minimal investment amount?
Radhakrishnan K.V.
(Expert)
22 July 2019
Filing of return and purchase of property have no relation.
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