Declaring Gift (Money) in ITR

1. The gift received by you can be declared under exempt income.... Schedule EI.

2. Gift given to your mother cannot be declared in your ITR.

Thanks for the reply sir! But when I enter 45000 in Schedule EI, it doesn't reduce the total income and total tax. Shall I subtract that amount from "income from other sources" field and only put it in schedule EI? Also what category shall I select in Schedule EI for gift received?

Would appreciate your detailed response to this, thank you!

You don't have to declare it under IFOS. Only under Exempt Income.

Under Others ... Gift from friends.

Okay sir I got it now, so basically I don't have to add that amount into any of the income categories (profession/other sources etc) and only put it in exempt income.

Thank you so much for the help! 🙏

You are welcome.                  & Good luck for filing .......

Hello Sir,

I have similar query on gift received from father.

I received some jewellery and money as gift from my father during FY 2022-23. I am salaried person and had already filed ITR 2. Do i have to file revised return disclosing the gift details. If so kindly share how to go about it.

Thanks & Regards

Naveen

No need to revise the return now, but keep gift deed ready in case of future inquiry, if any.

Thank you so much for your clarification sir.

You are welcome.       

Is there a provision to declare the gift given to a relative in ITR ? 

There is no provision to declare it in ITR of gift donor. Only gift (from Relative/s) receiver  can declare it in Schedule EI of ITR.