24 February 2013
Sir, i am having proffesional income around 1.5 lakh and i got marriage in 2011,i got sagun cash from relatives around 1 lakh,now which itr i have to fill out and where i have to show this marriage gift?and is that taxable?
24 February 2013
Gifts received at the time of marriage is exempted to tax. You have professional income so you have to select ITR-4 to file your return of income and at the schedule EI disclose the the income by way of gifts under other exempted income column.
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