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Schedule EI in ITR1

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(Querist)
06 August 2020 Is it mandatory to report the gift amount/s received from my son abroad every month in Schedule EI every year?
what are the advantages?
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Asha Kanta Sharma

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Asha Kanta Sharma (Expert)
09 August 2020 Disclosing this income in the return helps create a trail and gives the taxpayer ready explanation for investment or use of such money in future.

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