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Non filing of itr

Notices & Assessments 515 views 6 replies

Hello friends, My wife has left her job for personal reasons during FY 2017-2018 and hence didn't file ITR. She had some money in her account of which she did FD. Also we purchased a flat together with her being primary owner. Now she has got two verification issues from IT compliance:

a.Investment (SFT-005) Time deposits (other than a time deposit made through renewal of another time deposit) and

b. Purchase of Immovable Property (TDS-194IA(P)) TDS Statement-Payment on transfer of certain immovable property other than agricultural land (Section 194IA).

Kindly let me know what should we do.

Replies (6)
Was the income from salary and interest income if any exceeded basic slap of Rs.2.5 lakhs, then you need to file belated IT now.

Hi Girish,There was 0 income as my wife was not working for that FY 2017-18. Also the interest earned by means of time deposit (i.e. FDs) was around Rs 58k. In that case,do we need to file ITR or just reply in compliance portal that ITR was not needed ? Also there was TDS deducted for flat purchase of around Rs.9L.Should there be any clarification provided by our side for it ?

In the given case, she is not require to file IT, but responsed to verification clarification called for as that is required.

Thanks Girish. How should i clarify for the TDS.(TDS Statement-Payment on transfer of certain immovable property other than agricultural land (Section 194IA)).I have made my wife primary owner and hence TDS was deducted on her name. Should i give some specific information while clarifying this verification ?

You have made a payment of Rs.9 lakhs for the payments of purchase of property and Tds for the same was deducted. Clarify that payment was made from income sources of you and your wife and you had already paid taxes for the income source earned by you. That's all. There is no issue that property was purchased in wife's name.
what's the source for the fd and purchase of immovable property? prove the source supported with material evidence. problem solved


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