I am doing a Farming and my yearly income are not fix as depends on weather. I am investing in mutual funds, but All my Agriculture land is in the name of my Father and Uncle.
I want to ask that, i have to fill individual ITR or not ? As my family income from Agriculture are between 3 to 5 Lacs Yearly. I have start SIP and do lumpsum investment on my name in this year.
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Regarding ITR.
Replies (1)
It is always advisable to file return, and declare all the income, though it be below taxable limit.
In your case the family income should be channelised properly in respective file/s, and if you receive the final amount, should be declared as gift from relatives...
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