विशेषज्ञ की सलाह चाहिए?हमारे गुरु मदद कर सकते हैं
Chandran
Mihir Tanna1062 Answers |Ask - Follow
Tax Expert - Answered on Jun 04, 2025
Asked on - Jun 04, 2025
Sir, My NRI daughter has to file ITR in Form.2 for FY24-25. All relevant data is visible in AIS. As there is some hurry, can she go ahead and file the ITR or does she need to wait for anything else?
There was news that forms1&5 were ready which indirectly meant that other forms were not yet ready. Hence this query, sir.
Ans: AIS is updated based on SFT/TDS/other returns filed by different reporting entities Due date of some of such returns was 31st May and accordingly, AIS is likely to be updated in next 2 week. Thus, it is advisable to file ITR after 15th June.
Further, AIS can be base for ITR but if any income/TDS/other details are available with you but not appearing in AIS; same is required to be reported/considered in ITR as per Income Tax provisions.
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Further, AIS can be base for ITR but if any income/TDS/other details are available with you but not appearing in AIS; same is required to be reported/considered in ITR as per Income Tax provisions.
T S Khurana Answer |Ask - Follow
Tax Expert - Answered on May 17, 2025
Asked on - May 02, 2025
Sir, NRI daughter had LTCG income in FY23-24 and IT returns was filed in ITR-2 as per rules. In FY24-25 there is no taxable income and there is no LTCG also. In such a case, filing may not be required but she would like to file just to keep the records straight.
My query is which ITR form is to be used in this case? In case if ITR-2 is not required, is there anything wrong in using ITR-2 itself?
Ans: You may file ITR of your daughter in Form No ITR-2. Hope you won't face any problem in this connection.
Most welcome for any further clarifications. Thanks.
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Most welcome for any further clarifications. Thanks.
Mihir Tanna1062 Answers |Ask - Follow
Tax Expert - Answered on May 12, 2025
Asked on - May 11, 2025
Sir, I am a pensioner senior citizen. While the tax for the pension is fully deducted through TDS, I do have Capital Gains from Share and MF transactions for which tax is to be paid for FY 2024-25. I read that Sr. citizens are not required to pay advance tax. Also the AIS gets fully populated by the middle of June after which only tax liability is fully visible with previous losses carried forward etc. My query here is will it be enough if I pay the remaining tax liability just before filing the ITR? The CG is always treated separately and hence my doubt, sir.
Ans: Senior citizen not having income from business or profession is not required to pay advance tax. Accordingly, in your case if said income from shares/MF is chargeable as capital gain, you can make payment at the time of filing ITR.
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Mihir Tanna1062 Answers |Ask - Follow
Tax Expert - Answered on May 05, 2025
Asked on - May 05, 2025
Sir, NRI daughter had LTCG income in FY23-24 and IT returns was filed in ITR-2 as per rules. In FY24-25 there is no taxable income and there is no LTCG also. In such a case, filing may not be required but she would like to file just to recover the small but atrocious deductions made in the SB account..
My query is which ITR form is to be used in this case? In case if ITR-2 is not required, is there anything wrong in using ITR-2 itself?
Ans: In case she is earning interest from saving account only, ITR 1 is applicable and it is advisable not to use ITR 2. Further, ITR 1 can not be filed in following cases like if person own assets (including financial interest in any entity) located outside India; has signing authority in any account located outside India; has income from any source outside India; want to claim deduction from saving interest, is a director in any company; has held any unlisted equity share at any time during the previous year; has agricultural income, exceeding five thousand rupees etc
Refer to Rule 12 for the applicability of form :
https://incometaxindia.gov.in/Pages/rules/income-tax-rules-1962.aspx
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Refer to Rule 12 for the applicability of form :
https://incometaxindia.gov.in/Pages/rules/income-tax-rules-1962.aspx