Exempt gift in itr1

neha (Others) (386 Points)

26 August 2019

where to show the exempt gift received in itr 1? also doe the person giving gift have to show it in his itr1 too if yes where?

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RAJA P M ("Do the Right Thing...!!!") (127133 Points)
Replied 26 August 2019

Between Part C and Part D as "Exempt Income".

Kapadia Pravin (17249 Points)
Replied 26 August 2019

Exempt gift is a capital receipt by receiver Donee) and not an income at all. So not to be disclosed in ITR1

neha (Others) (386 Points)
Replied 26 August 2019

Originally posted by : Kapadia Pravin
	Exempt gift is a capital receipt by receiver Donee) and not an income at all. So not to be disclosed in ITR1

oh ok thanx

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