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Gift from Fathers brother

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(Querist)
09 September 2025 Is gift from Father's Brother is taxable? what is the exemption limit? how to declare the same in ITR 4?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
09 September 2025 Yes, it is exempt u/s. 56(2)(x) IT act, without any limit. Declare it under 'Except Income'
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
20 September 2025 Good Luck..
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