Gift Received- Mandatory to show as exempt income?
This query is : Resolved
20 July 2022
Is it mandatory or optional to show gift received from relatives under exempt income while filing the return? What if we file the return without showing the same?
20 July 2022
Banks report transactions under SFT as per limits prescribed, to ITD.
The same gets reflected in AIS.
If you find any such entry in your AIS, better to clarify, it to be Gift from relative/s, otherwise query is raised.
The same gets reflected in AIS.
If you find any such entry in your AIS, better to clarify, it to be Gift from relative/s, otherwise query is raised.
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