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