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How to show gifts (cash) received on marriage in itr?

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rajan kumar (Tax & Audit Assistant) (101 Points)
Replied 21 May 2012

Tax Free Income or Exempted Incomes are also need to disclose in the Income Tax Return also. All  Answers are only related to the book entry in the books of account, but the main query is different that whether to show in ITR or Not. I am fully satisfied with the answer of Mr. Sarvesh Kumar Singh that it should be disclose in the Schedule E.I. (i.e. exempted Income). It need to be disclose all type of Income whether taxable or exempt in the Income Tax Return.




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