CA M. com
10823 Points
Posted on 24 December 2009
First of all, clear the Q, i think it should be "person not liable to FILE return"....
Secondly, there's no human being on indian land, earning income, who is not liable to file return....
Now, that says, any person who's not earning any income or not involved in any business is not as such liable to file ITR... But then, the Q arises, from where such person can bring any savings or investments??? A person, if earning income, is liable to file ITR,... And if he's not earning, then from where does he brought such income????
If he's brought such investments from past gifts or some other source, i think disclosure of the same is necessary...