can gift received be treated as Capital receipt

This query is : Open

PRADEEP PAL (Querist)
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10 December 2009 case : - Mr. A has received Rs. 29600/-
from his relatives as gift and
added to his capital account

query: - in clause 13 (e)of Form 3cd can we
write same amount as capital
receipt ?

veena

veena (Expert)
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16 December 2009 Gift received is covered under the head income from other sources and not capital gain

PRADEEP PAL

PRADEEP PAL (Querist)
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16 December 2009 Respected veena madam,

i am not considering that gift as capital gain

my query is about whether the gift received can be treated as capital receipt