I received bank transfer of 2 lacs in my bank account from my brother.
whether it is taxable ?
also let me know whether it is necessary to disclose in itr?
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Disclosure in itr
Replies (4)
What is the cause of the transfer of the amount?
Whether it is gift or loan?
In either case it is not taxable.
Disclosure in ITR depends...
Gift.
then how to disclose
then how to disclose
Disclose in exempt income column in ITR
Show it as gift exception of Sec 56(x) 2
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