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Individual received money from father need to show in itr

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VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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29 August 2025 Sir a individual received money(10 lac) from his father( land aquitition comensation by NHAI and Railway) as gift
my query is
how to declare in itr ???? is it taxable gift???? because more than 50k
OR no need to show in itr???
please advise
Vikas

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 August 2025 Gift received from Father is exempt u/s. 56(2)9x) IT act.
You may declare it in Schedule EI as exempt gift.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)
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30 August 2025 thank you very much SIR!

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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30 August 2025 You are welcome.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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21 September 2025 Good luck....

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