Enginner
21 Points
Joined June 2017
My wife earn approx 15000 pm with only private tutions. He recieves in CASH and use this cash in household expences. I deposite same amt to her bank account and invest full amt in diffrent shares and MF SIPs in my wifes name. I have not filled her return till date. I am investing whole 15000 pm in share in my wife's name. I am ding this since last 4-5 years hence approx total amt in shares and MF in my wifes name is 5 lacs. Do i need to fill IT return of my wife. If yes then which ITR form to fill and how to show this income in form. Intrest income in her bank account is less than 10000.
If i sell all my share and MF than total amt in my case is 5 lacs is treated as the single year income.