Gift
This query is : Resolved
PRAVEEN JAIN
(Querist)
23 July 2012
i had received some amount from my father in the F.Y. 2007-08 & again in F.Y.2008-09
Till now i am showing that money as unsecured interest free loan in my capital a/c.
Now my father want to gift me that money.
Please let me know after a gap of 4-5, how to show this loan as gift in ITR.
Thanks
Till now i am showing that money as unsecured interest free loan in my capital a/c.
Now my father want to gift me that money.
Please let me know after a gap of 4-5, how to show this loan as gift in ITR.
Thanks
CA mahesh birla
(Expert)
23 July 2012
you make a gift deed and transfer the loan amount in capital account.
PRAVEEN JAIN
(Querist)
23 July 2012
Is it permissible to make a gift deed in current date and how to show that in ITR
CA mahesh birla
(Expert)
23 July 2012
as your loan is converting in gift as on date so you execute deed on current date.
PRAVEEN JAIN
(Querist)
23 July 2012
Thanks Sir for replying
Kindly let me know how to show this gift in ITR
Kindly let me know how to show this gift in ITR
Guest
Guest
(Expert)
24 July 2012
Dear Praveen....
There is no need to shown gift in ur ITR
There is no need to shown gift in ur ITR
SANYAM ARORA
(Expert)
24 July 2012
No Need to show In ITR
Dhirajlal Rambhia
(Expert)
08 October 2021
You can declare it under Schedule 'Exempt Income'
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