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

Poojitha Raam Vinay pro badge , 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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Poojitha Raam Vinay
(Practice )
Category Income Tax   Report

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