Gift Received - To be shown in ITR?
This query is : Resolved
Quick Summary
13 July 2024
Hi,
I have received a monetary gift from my mother in FY 23-24. I have made a gift deed and got it notarised.
1. Do I need to show the gift in ITR in Exempt Income?
2. In which sub clause of section 10 to put it or I have to put it under any other?
3. Any problems if i forget to mention it in ITR?
Thanks.
I have received a monetary gift from my mother in FY 23-24. I have made a gift deed and got it notarised.
1. Do I need to show the gift in ITR in Exempt Income?
2. In which sub clause of section 10 to put it or I have to put it under any other?
3. Any problems if i forget to mention it in ITR?
Thanks.
13 July 2024
1. Not mandatory, but better to disclose.
2. Under Schedule EI, others. Gift u/s. 56(2)(x)
3. Not much.
2. Under Schedule EI, others. Gift u/s. 56(2)(x)
3. Not much.
13 July 2024
As always, thank you for the prompt response sir.
13 July 2024
"Sorry, I am not a featured member."
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25 August 2024
My Pleasure.
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