Gift

This query is : Resolved

CA Vijay Kumar (Querist)
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14 July 2014 I have received cash gift from my brother in law of Rs. 2 lakh in Feb 2014. Whether any documentary requirement for this transaction???? I have no document for this transaction..???
If any document required then what documents & can i prepare this document now a days...???

CA Sanjeev Kumar

CA Sanjeev Kumar (Expert)
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14 July 2014 no specific document is needed but you need to mentioned this income in ur income tax return.

this income is not taxable...showing this income in the ITR is big document in itself....