It filinig
This query is : Open
Periasamy Rajeswaran
(Querist)
23 October 2017
On voluntary retirement fro bank in 2000, I invested the retirement benefits in my two daughters and in my wife's name in mutual funds,
The ITO ordered me to club the income out of the income from the investments made in my wife's name and pay the tax with interest. I did.
He also advised me to to file returns thereafter clubbing of my wife's income with mine as she is not having any source of independent income.
I file returns accordingly thereafter. Of late my wife is receiving notices that she has not filed IT returns. When informed that her income is clubbed with that of mine and IT returns submitted by me clubbing her income, ITO says that notice under Sec 143 issued and that she is file nil return at least to close the case. I did. Now he advises me to file IT returns separately in future. Please guide me as to how to proceed in future
The ITO ordered me to club the income out of the income from the investments made in my wife's name and pay the tax with interest. I did.
He also advised me to to file returns thereafter clubbing of my wife's income with mine as she is not having any source of independent income.
I file returns accordingly thereafter. Of late my wife is receiving notices that she has not filed IT returns. When informed that her income is clubbed with that of mine and IT returns submitted by me clubbing her income, ITO says that notice under Sec 143 issued and that she is file nil return at least to close the case. I did. Now he advises me to file IT returns separately in future. Please guide me as to how to proceed in future
CA Rashmi Gandhi
(Expert)
23 October 2017
You have to file separate returns for both.........
Periasamy Rajeswaran
(Querist)
23 October 2017
Thank you very much madam.
23 October 2017
Yes...
You ll file separate reruns...
The AO is correct....
Also you Deposit more than 2lakhs then it treat as above 2lakhs deposit case....
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