Query On Incometax
This query is : Resolved
Sivaramakrishna MBA
(Querist)
15 October 2020
Dear Professional Friends Good Afternun.
One Of My Client Mr.Raja Sold His Land Rs.35lakhs Which On The Name Of His Wife Which She Is not an incometax assessee due to No Employement.
Raja is an incometax assessee for last 5 years n Same Above money utilised for buying of another land on his name.
In the above case Is it required to file Mrs.raja income tax returns ?
Kindly Guide Me Without Any Further Issue.
One Of My Client Mr.Raja Sold His Land Rs.35lakhs Which On The Name Of His Wife Which She Is not an incometax assessee due to No Employement.
Raja is an incometax assessee for last 5 years n Same Above money utilised for buying of another land on his name.
In the above case Is it required to file Mrs.raja income tax returns ?
Kindly Guide Me Without Any Further Issue.
CA R SEETHARAMAN
(Expert)
15 October 2020
Yes, Mrs Raja reguired to file ITR to pay tax on capital gains on sale.
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