Itr help !!!
Dear Members,
I am going to file ITR of my mother and my uncle.....for the financial year 2013-14 .
Pls guide me on following points:
1) During the year my uncle purchased a property Rs. 4 lakhs and payment was made by my mother from her A/c.
How it should b dealt in ITR?
2) Since both of them are below exemption limit and tax payable is nil.
Is thr Any penalty or intrest is attracted?
I will file ITR before 31.03.2015.
Thanks in advance.
Replies (2)
Dear Frnd
1. ITR 2 deals with Income from Salary and Income From Other Sources. So question for Show his purchased property in return don't arise
2. Since there is no any tax liablity as you mentioned, therefore interest and penalty will not arise. You could file his return by 31 mar 2016.
Thank You Jay Kumar Ratan.
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