My Spouse's Gross income is approx Rs. 140000 PA, which consists of Bank FD Interest, Share dividends, NSC interest, PPF Interest. Brokerage commission income. It is below taxable limit.
Every year, I gift her Rs. 150000 & pay her mediclaim premium of approx Rs. 15000. I do not claim rebate of her mediclaim premium in my ITR. I have not started to file her ITR yet. I will file it this year. So I am confused that if I claim Rs. 150000 exemption of PPF and mediclaim premium exemption, how will I show it in her ITR? Her PPF contribution & mediclaim contribution exceeds her income limits. How will I explain in ITR? Though I have kept a seperate notes regarding the same and can explain and prove if required in future. As there are no colums in ITR forms to mention gifts received. I am confused and I rely on this forum to guide me. Please help and reply at earliest, as this question is going in my mind all day. Thank you. Regards.
CAclubindia
