Gift received

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Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 Gift received from father which is expemted where to show in ITR return (salaried employee)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

12 July 2011 ITR-1 (Sahaj) is the form. Pl include the referred gift in 'work sheet no.5',column 4.

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 Thank u sir i am not finding any ws & column in itr1 excel as mentioned

3 ws Income details , tds & tax & verification are there.

Pls help me

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 Thank u sir i am not finding any ws & column in itr1 excel as mentioned

3 ws Income details , tds & tax & verification are there.

Also income expempt from tax column showing (Div.income,agr.incom <5000) and my gift received is Rs.50 lacs

Pls help me

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

12 July 2011 The work sheet and column referred are in the paper format form issued by govt of India,which I got,at free of cost,from the Income tax office.

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 Thanks sir but E filing where to show

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

17 July 2011 There is no need to show the Gift Received from father -as the same is not covered under Section 56 vis-a-vis U/s 2(24) as Income.

Only taxable gifts are forming part of income.

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