Which itr form for house wife having income from bank fd

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Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2017 Please tell me which ITR to be filed for House wives who has income from bank FD interest more than 1,50,000/- per annum, but below Rs. 2.5 lakhs. Is it necessary to file ITR? She has no other income. These FDRs are startinging from year 2007 amounting Rs. 1.5 Lakhs and adding lumpsump amount Rs. 100,000/- per year received from husband. Now this amount is Rs. 18,00,000/- approx in june 2017 in the name of wife. Her husband filed his ITR regularly since 15 years. Husband filed around Rs. 4 Lakh ITR from last 3 years.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

02 June 2017 As the amount is given by the husband clubbing provisions applicable and the entire interest received by wife is taxable in the hands of the husband.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

02 June 2017 If amt deposited in FD from pin money thab it is taxable in hands of wife.For this she has to file ITR-1.
If all money received from husband as a gift then clubbing provision is applicable & such income is ahown in other sources of husband.

Querist : Anonymous

Querist : Anonymous (Querist)

04 June 2017 thanks for your expert advice

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