Gift Received (Property)by son from Father


This query is : Resolved 

Quick Summary
If you've received property as a gift from your father, you may need to disclose it in your Income Tax Return. It can be declared under Schedule EI, as it is exempt from tax under Section 56(2)(x) of the Income Tax Act. This ensures compliance while acknowledging the gift.

(Querist)
29 July 2025 Whether to disclose Property received as Gift from Parents in IT Return?
If yes then where to show?

29 July 2025 You may declare it under Schedule EI as it is exempt under sec. 56(2)(x) IT act.

25 September 2025 Good luck...


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