GIFT INCOME DEED ISSUE
This query is : Resolved
TARIQUE RIZVI
(Querist)
27 January 2022
Respected Sir,
During the whole financial year 2020-21 one of my clients has received a sum of Rs 15,72,000 in many Installments on account of GIFT from her real brother settled in US. As I have to show the said income in ITR-2 under the head of exempt income, whether any DEED is required for such a GIFT INCOME as supporting documentary evidence.
During the whole financial year 2020-21 one of my clients has received a sum of Rs 15,72,000 in many Installments on account of GIFT from her real brother settled in US. As I have to show the said income in ITR-2 under the head of exempt income, whether any DEED is required for such a GIFT INCOME as supporting documentary evidence.
CA R SEETHARAMAN
(Expert)
27 January 2022
No deed is required bank statement evidencing transfer is enough.
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