Not filing tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2016
I am working in a pvt company my taxable income is less than 5 lacs.I do not want to file return in A Y 2017 -18(planing for next year).One condition which I am not meeting my interest on saving bank will be more than 10000.If I transfer money to my husband account who is also a income tax payee and manage my saving bankinterest less than 10000. will it be unlawful.Pl advice.
15 June 2016
If your taxable income exceeds the income tax slab applicable to you you must file your income tax return. Transferring money to your husband's account will not serve any purpose since even if you transfer the bank interest will be clubbed in your hands by virtue of section 64.
Rupesh Jain
(Expert)
15 June 2016
intt of gift amount will add in your hand u/s 64
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