Property and Cash Received as Gifts: How To Report in ITR?

| Last updated: 05 September 2025

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In India, receiving gifts in the form of cash or property is common, especially during festivals, weddings, or family events. However, the Income Tax Act, 1961, governs the taxation of such gifts under Section 56(2)(x), and its crucial to understand how to report them in your Income Tax Return (ITR)

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About the Author

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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