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Gift reced

This query is : Resolved 
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(Querist)
24 November 2014 ONE OF MY CLIENT HAS RECEIVED RUPEES 10 LAKHS IN CASH SPREAD OVER THEYEAR AS GIFT WHETHER IT IS TO BE REPORTED IN TAX AUDIT REPORT HE HAS ACCOUNTED SAME IN HIS CAPITAL ACCOUNT
PLEASE ADVISE ME IN THIS REGARD
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 November 2014 u havent mentioned from whom ur client recieved gifts.
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PAI

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PAI (Querist)
25 November 2014 FROM RELATAIVES I.E BROTHER MOTHER
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
25 November 2014 then they are not taxable as per sec 56(2)

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