Amount received as Nominee

The amount received as Nominee if its not taxable then where to declare it in ITR form and does one need a certificate from the bank citing the same ???
Replies (3)
Quick Summary
This discussion clarifies how to handle amounts received as a nominee for tax purposes. It explains that such income should be declared under Schedule EI (Exempted Income) in your ITR3 form. The relevant section of the Income Tax Act, 1961, is also provided.

Declare it under schedule EI.

Exempted income in ITR3 thank you. under what section does this come ?

Sec. 56(2)(x) of I T act, 1961.

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