IT return filing & Credit card spending
My friend is a homemaker in Bangalore and her husband is an NRI. One of the MNC banks has issued a credit card in her name based on her husband's known source of income... Recently, she has got a notice from the IT department asking her to explain why she has not filed an IT Return for the year AY 2013-14, reason being she has spent more than Rs. 2 lakhs on her Credit Card.. As she has no source of income, under which head should she file her IT Return? Second, since her husband is an NRI, with no source of income in India, it is not mandatory for him to file IT Return.
Tax experts please advise more
Tax experts please advise more
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REACTION (shared for the ‘common good’): Without being obliged to say for or against the others’ posted comments, impudently so, it is said that display of the comment posted earlier has been deleted, influenced by another ordinary (seemingly a non-expert) common user’s adverse comment on the contextual relevance of that comment. Website is a website, with nothing more or beyond; and, its Admn./ The Team is, in a manner of plain speak, always in hiding and not within reach , with no body visible to be kicked or soul to be condemned. On the inherently confusing concept of ‘contextual relevance’- coupled with the unholy self-assumed power to ‘moderate’,- it is to be noted that, even in the legal regime , to be precise in the realm of administration of ‘justice’, one will find , on an intelligent search, any number of instances/ life experiences to cite, so as to fortify and support the proposition that the concept, by itself, has messed up the whole system beyond recognition . Lawyers or jurists, eminent ones among them, may wish to testify the correctness / acceptability, or otherwise, of the stated proposition. As viewed independently with all sincerity, none , if not wish to offend own intellect / nature -given power to think, brush aside the contextual relevance of the not-so-apparent message pressed forth in the published write-up @ Cattle class October 30 Hope wisdom prevails in such matters of pure exchange of independent thoughts of anyone, well-meaning and -intended to simply provoke more common sense ideas, for the ultimate benefit of the end users; without being bogged down by a in-box , narrow approach. Enough is enough ! more
Oct 31
Dear Chitra as you have mentioned in your query that its a case of one of your freind and she is a homemaker with no source of income and her husband is NRI. There are some related questions which my learned friends here has not raised. First of all where is your friend residing and how the status of her husband is NRI? Second question is that if she is residing in India then from where she is getting remittances and what is the mode of remittance? If she does not have any source of her income here in India then she has to simply submit the reply of the cited notice stating the mode of payments of credit card bills and the source of that repayment. She does not have to file ITR but she is bound to give details of her source of repayments of credit card bills with documentary evidences. Rest will depend upon her reply and evidences produced before tax authorities. more
Oct 28
The notice is a part of the tax widening and for curbing tax evasion through A.I.R (annual information return to be filed by various agencies such as bankers, credit card providers, share brokers etc). You ask your friend to file a reply stating the sources of income from where she got for repayment of credit card dues (in her case may be past savings/ income of her N.R.I husband). If she does not have taxable income in India of more than Rs.200000 during that year she is not obliged to file any I.T. return. more
Oct 28
