Filing of itr 4

This query is : Resolved

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)
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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

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