Which itr used

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munish (Querist)
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26 March 2017 Suppose Nephew a salaried person (outsourced on contract not permanent)= total taxable salary= 1.5 lakh in F.Y.2016-17 and nephew get a gift from Uncle (Father Brother) deposited in Bank in F.Y. 2016-17 by cheque and cash of Rs. 1.10 lakh and further Nephew get interest by saving and Fd from gifted amount .

Want to Fill ITR of F.Y. 2016-17.

1. which ITR used = ITR 1 or ITR 2.

2. how to show gift of Rs.1.10 lakh (from Father Brother) in which section of ITR1 or ITR2.(Note= Some C.A. says Nephew have to fill ITR-1 because Nephew is a salaried class because as per my search on internet if your exempt income more than Rs.5000 (Rs.1.10 lakh from gift is a exempt income or not) you have to fill ITR 2.Please clarify the situation. Nephew is on contract bases no form 16 issued to employee only outsourced employer give cheque which is deposited in bank and salary slip is also not given.

Regards,

Munish Narang

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 March 2017 In case your nephew having contract employement depends on professional and technical skills, he has to file the ITR-4 . else ITR -2 has to be filled showing other Income

munish

munish (Querist)
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26 March 2017 not clarify on gifts of Rs.1.10 lakh in bank (from father brother in F.Y. 2016-17) how to show in which itr in above question.Nephew is a Junior Assistant in academics area not permanent employee as on outsourced contract,no form 16 and salary slip is given) (profile phone handling, file keeping and work in ms office to make adjustment of letters).so please clarify more.which itr is used and under what section.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 March 2017 Use ITR 2 to declare both the contract salary income and the money received as gift. money received from relative as gift is not taxable.

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