One of my client received gifts worth Rs. 5 Lakh in cash on his marriage.
I understand that these gifts are not taxable in his hands but is this income required to be disclosed anywhere in the income tax return?
If yes, then where?
One of my client received gifts worth Rs. 5 Lakh in cash on his marriage.
I understand that these gifts are not taxable in his hands but is this income required to be disclosed anywhere in the income tax return?
If yes, then where?
in schedule EI pt no. 6 "others"
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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