Itr form
This query is : Resolved
04 August 2017
my father always deposit 60000 to 70000 p.a in my a/c for my need . i have not any income . i forgot to submit form G to bank and bank deducted tds .i want to know that is it tax free because my friend suggest me that gift received in cash or kind from relative is tax free so my que. is -which itr form applicable on me and is there any tax implication
05 August 2017
For 60 to 70 thousands in a year income by Gift is non-taxable with some deed.
For 60 to 70 thousands in account in whole year , TDS should not be deducted by bank.
Still if bank has deducted , u can file ITR-1, column no. 26 ( exempt income in row having others --) ) showing this 60 to 70k as gift income and claim TDS deducted.
TODAY 5TH aUG. 17 IS LAST DATE , SO DO IT NOW ONLINE.
For 60 to 70 thousands in account in whole year , TDS should not be deducted by bank.
Still if bank has deducted , u can file ITR-1, column no. 26 ( exempt income in row having others --) ) showing this 60 to 70k as gift income and claim TDS deducted.
TODAY 5TH aUG. 17 IS LAST DATE , SO DO IT NOW ONLINE.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Form 10BD Filling
- Not able to file ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
