Cash gift from maternal uncle
This query is : Resolved
Lamber Ranjeet
(Querist)
11 October 2020
For cash gift from maternal uncle in excess of 50000 , I believe comes under exempt income in ITR to be disclosed under EI section while filling Returns however will a typed letter signed by the donor and donee be sufficient proof for IT purposes or should it be notarized ? And if the donor is a non resident will it have a different treatment?
CA PARTH SHAH
(Expert)
12 October 2020
Better have a proper documentation of Gift Deed as faceless assessment has been started and now only documentary evidence will be considered valid during assessement.
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