Gift Amount under which ITR section?

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Quick Summary

A user gifted their pensioner mother £10 lakhs via cheque and is asking if this amount needs to be declared in her ITR-1. The advice provided is that while it's not strictly mandatory to show, it can be declared under the 'exempt income' schedule. Gifts from specified relatives like parents are generally tax-free in the UK.

Vaish T

Vaish T (Querist)

11 August 2020 My mother is a Pensioner and files ITR-1 every year. I had gifted 10 Lacs to my mother by cheque this January. Does she need to show this amount in her ITR? If 'Yes', then under what section of ITR-1 and how? As per my understanding gifts from specific relatives like parents, spouse and siblings are Tax Free. So please guide me as early as possible. Thank You.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 August 2020 Not necessarily to show it. But can be shown in exempt income schedule of ITR.

Vaish T

Vaish T (Querist)

11 August 2020 Thank You very much Sir. I appreciate very much for your quick response. I have another query, which I have posted on the forum, Can you please answer? Link is here -> https://www.caclubindia.com/forum/small-ltcg-on-itr-553279.asp

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Vaish T

Vaish T (Querist)

12 August 2020 Thank You Sir for your prompt response.

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