Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Samkit

Samkit Maniar  |179 Answers  |Ask -

Tax Expert - Answered on Feb 03, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more
Gopal Question by Gopal on Dec 26, 2023Hindi
Listen
Money

I filed my ITR in 30July2023 clubbing together my wife's income, ITR processed and Refund credited to my Bank a/c. I invest/trade in Stock market in my name as well as wife's out of my own fund, wife has no fund of her own. I have been filing ITR for last 20 yrs clubbing wife's income. On 10/12/23 an SMS came stating that her income for AY 2023-24 has not been filed and asked to visit ITax Cmplince Portal and respond under e-campaign which I did and gave response stating my ITR Acknowedgement No. and Date of filing. Is it necessary to file separate ITR for her? Can IT Dept start proceeding etc against her? Thank you very much Awaiting your reply asap.

Ans: Disclosing it appropriately in your return is important.

Seperate return for your wife may not be required.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Moneywize

Moneywize   |174 Answers  |Ask -

Financial Planner - Answered on Jan 29, 2024

Asked by Anonymous - Jan 29, 2024Hindi
Listen
Money
I filed my ITR in July 30, 2023 clubbing together my wife's income, ITR processed and Refund credited to my Bank a/c. I invest/trade in equities in our names but out of my own funds, wife has no fund of her own. I have been filing ITR for last 20 yrs clubbing wife's income. (*) On 11/11/23 an SMS came stating that her income for AY 2023-24 has not been filed and asked to visit ITax Compliance Portal and respond under e-campaign which I did and gave response stating my ITR Acknowedgement No. and Date of filing. (*) Is it necessary to file separate ITR for her? Can IT Dept start proceeding etc against her? Thank you very much Awaiting your reply asap.
Ans: There could be many layers to it, and so it's important to consult with a tax professional for tailored solution to your specific situation.

When you file your income tax return (ITR) by clubbing your wife's income, it typically means that both your incomes are reported together in a single return. In such cases, it's important to ensure that all relevant details and incomes are correctly disclosed while filing the ITR.

Regarding the SMS you received, it's possible that there might be some discrepancy or confusion in the information received by the income tax department. Responding to the e-campaign with your ITR Acknowledgment Number and the date of filing should provide them with the necessary information.

However, if your wife has a separate source of income or if there are specific requirements for her to file a separate return, it's advisable to clarify this with a tax professional. The income tax department may require separate filings for individuals with their own sources of income.

If there are any discrepancies or if the income tax department requires additional information, they may initiate proceedings. It's crucial to respond to any communication from the tax department promptly and accurately.

To ensure you have the most accurate and up-to-date information, consider consulting with a tax professional or reaching out to the income tax department directly to seek more clarification on the specific requirements for your situation.

..Read more

Latest Questions
Mayank

Mayank Chandel  |1994 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Feb 05, 2025

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x