Gift received - movable property
This query is : Resolved
01 March 2018
I have a query:
Wife received bonds as gift from spouse-
1. Gift received is not shown in ITR - What shall be the consequences.
2. Is registration of Gift deed for movable property mandatory ?
Regards
Shikha
Wife received bonds as gift from spouse-
1. Gift received is not shown in ITR - What shall be the consequences.
2. Is registration of Gift deed for movable property mandatory ?
Regards
Shikha
01 March 2018
1. This gift is from a relative and hence, tax free. It need not be reported in ITR
01 March 2018
2. Not mandatory to register gift deed
02 March 2018
2. Not mandatory...
1. No need worry for without Showing the details.
02 March 2018
2. Not mandatory...
1. No need worry for without Showing the details.
06 March 2018
It is only advisable and not mandatory to declare large Gifts (which are from relatives and not taxable) in your Income Tax Return under Exempt Income. Further, it is not mandatory to enter into gift deed
08 March 2018
Thank you all..
It helped !! :)
It helped !! :)
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