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Mohanraj J   24 July 2021

NRI Income Investments In India

Dear Friends,

My friend is working in UAE, He would like to make some investments in his wife name in India. Already he has made 16Lakh term Deposits in Post Office. Now, he would like to invest further 30 Lakhs in her wife's name in the Post Office.
ITR-2 Done for her wife for FY 19-20, 20-21. But, they didn't show existing investment in ITR2 bcoz her wife Income is NIL.
Anyone can advise on this.


 8 Replies

Sourav

Sourav (Student)     24 July 2021

Interest income should be shown in ITR
1 Like
Mohanraj J

Mohanraj J   24 July 2021

Sourav Bhai, we don't need to show this investment? Interest income only enough?
Sourav

Sourav (Student)     24 July 2021

Only Interest income on FD is taxable
CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     25 July 2021

No need to show Investments in GSTR-2, only interest income will be required to show in ITR-2
Sourav

Sourav (Student)     25 July 2021

Interest income is enough
CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     25 July 2021

Sourav, You are giving the same reply three times on this query.

Please stop and making fun of public site for sake of some points.
SUSHANT BIDAYE

SUSHANT BIDAYE   26 July 2021

Are the clubbing provisions u/s 64 not applicable here ?
CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     30 July 2021

Defilnately applicable but if such amount will as in form of loan, then not applicable.


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