Gift
This query is : Resolved
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
23 July 2012
you make a gift deed and transfer the loan amount in capital account.
23 July 2012
Is it permissible to make a gift deed in current date and how to show that in ITR
23 July 2012
as your loan is converting in gift as on date so you execute deed on current date.
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
24 July 2012
No Need to show In ITR
08 October 2021
You can declare it under Schedule 'Exempt Income'
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Residential status of non resident
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Taxability of credit in canara bank ET & T section (NRO)
- TDS offline utility
- Due Date Clarity
- Rent claimed on building given on permissive possession basis
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
