mr x a broker in listed securities was holding various shares amounting to rs 500000 at beginning of the fy 2021-22 .
during this year he has received few listed shares of Indian company of rupees 60000 by way of will of his deceased mother
and unlisted shares of Indian company of rupees 10000 from his relative mr. y by way of gift.
what should be disclose in ITR ?
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Disclosure unlisted and listed
Replies (2)
Quick Summary
It differs based on ITR filed, which ITR to be filed ITR 3 or ITR 4? & whether tax audit applicable for your business?
Wrong.
let me explain
1. ten thousand received from relative if not blood relation is exempted upto fifty thousand.
2. sixty thousand received by way of will is not taxable.
let me explain
1. ten thousand received from relative if not blood relation is exempted upto fifty thousand.
2. sixty thousand received by way of will is not taxable.
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