an individual purchase flate jointly named with his spouse by availing home loan on joint name.
he filed his return in ITR 3 showing 50% share of flate and 50 % loan liability.
can spouse file ITR 1 OR 2 without maintenance of books which results in not to disclose 50% value of asset as well as 50% loan liability in ITR..??
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Income tax return
Replies (2)
If there is no other oncome in your wife's name then no need to file return as her 50% in the flat will be SOP and hence no income and exempt.
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