Hi,
My wife is earning Rs. 20000/- per month i.e. 2, 40, 000 (per annum) by having private tutions. (No book of account). Ally so, she is gaining yearly interest of approx 15000/- on FDRs.
She holds a PAN card. Is she required to file Income TAX return for her annual income.
Which form can be used for the purpose and what are the tentative dates for the filing.
Whether any supportive documents will be required for evidence of income or else.
Regards,
Sunil Gupta
Yes sir as per IT ACt she has to file return .....
Main points we have to notice here is......
1.Did she submit her Pan for bank interest
2.DID she has any other incomes.
Suggestion
1.It is better to file tax return it is helpful for various purpouses
2.ITR4 is applicable
| Originally posted by : srinivass | ||
 |
Yes sir as per IT ACt she has to file return ..... Main points we have to notice here is...... 1.Did she submit her Pan for bank interest 2.DID she has any other incomes. Suggestion 1.It is better to file tax return it is helpful for various purpouses 2.ITR4 is applicable |
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Also the tantative dates in your case will be:
for earning from 1.4.2010 to 31.3.2011 : Due date was 30th July 2011
but the return can be filed upto 31st March 2012 (with interest, in case u have any tax payable)
Also, no supporting documents is required for evidence of income.
Thanks for the revert. Yes, she used to submit her PAN for the bank interest in the form 15G.
Secondly I transfer some of my funds (salaried income) to her bank account for investment purpose like RDs/FDRs on monthly basis. Will this has to be shown as her income since i have already paid the applicable taxes on the same. Can a spouse transfer any amount of fund to her partner for meeting her monthly expenses/future savings (or some limit is there)
Thanks and regards,
Sunil Gupta
CAclubindia
