Property received as gift where to show in itr2

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2018 Hello,

I have received a residential property as Gift from my mother in Nov 2017.valued at Rs 55 lakhs (registration of the deed done). My query is

1. Should i show Rs 55 lakhs in the EI section (others) in ITR2 , Else where do i show the property received as gift ?

2 Also should i mention the property in Income from house (deemed income since i have not rented the property yet)

Please clarify
thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 May 2018 1 Yes show it in EI schedule.
2 If this is the only house you have show it as self occupied.

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