guft
This query is : Open
19 September 2017
I received gift from my father rs. 5 lac.
I also have consultancy income also.
What is the tax treatment if i file my income tax return for the AY 2017-18
CA Rashmi Gandhi
(Expert)
19 September 2017
Same is exempted as received from relative . .....
K Srinivas, CMA CS
(Expert)
20 September 2017
Gift from father is wholly exempt from tasx. COnsulting income is taxed as income from business or profession
K Srinivas, CMA CS
(Expert)
20 September 2017
Gift from father must be shown under exempt income in ITR
CA Rashmi Gandhi
(Expert)
20 September 2017
Agreed with K Srinivas
CA Rashmi Gandhi
(Expert)
22 September 2017
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