Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Filing of itr 4

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

22 September 2012 Dear experts,

1. If a person has received Rs. 3 lacs as gift by cheque and 35 thousands gift as cash from his son, how can he show it in his ITR 4 ? Is there a column for it ?

2. If gift from relative can not be shown in ITR 4, how can one show it as it is significant and almost double of his total income for the year ?

3. Is turnover of delivery based stock trades (turnover is 8 lacs in this case) mentioned in ITR 4 ?

thanks

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

22 September 2012 1) Gift received from other than relatives is taxable as other income so the sum of Rs.3350000 show under the schedule Other Income.

2) Gift received from relatives is exempted so it show under the schedule Exempted Income(EI) at the column others in such schedule.

3) Yes, it shall be show at schedule P&L at column no 1.

OM SAI SRI SAI JAI JAI SAI

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now