Individual received money from father need to show in itr
This query is : Resolved
Quick Summary
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
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
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.
You may declare it in Schedule EI as exempt gift.
30 August 2025
thank you very much SIR!
30 August 2025
You are welcome.
21 September 2025
Good luck....
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