My wife is an unemployed housewife and holds a PAN CARD.
She has a Cash Certificate and a Bhima Bachath in her name amounting Rs 50000 in total (which was contributed by me}
She also does share trading in short term(shares bought and sold in a week) with an initial investment of 35000 (which was contributed by me)
Have two queries in this regard
1. Though her current income through these doesn’t cross 1 LAC , should income tax filing be done since she holds a PAN card ?
2. Would the IT department asks for source of income for the initial investment for the Cash Certificate and the share trading . If yes, what should be replied to that ?
She has a Cash Certificate and a Bhima Bachath in her name amounting Rs 50000 in total (which was contributed by me}
She also does share trading in short term(shares bought and sold in a week) with an initial investment of 35000 (which was contributed by me)
Have two queries in this regard
1. Though her current income through these doesn’t cross 1 LAC , should income tax filing be done since she holds a PAN card ?
2. Would the IT department asks for source of income for the initial investment for the Cash Certificate and the share trading . If yes, what should be replied to that ?