Gift Exemption under New Tax Regime

Hello -
Need your guidance on entering info in ITR2.

I received Rs. 75000 as gift from my father. I understand that I can take an exemption on this amount. I am using New Tax Regime.
Where should I enter this gift info on ITR2, so I can get the exemption?

Please assist.

Thank you.

Replies (5)
Quick Summary
This discussion addresses how to declare a gift of Rs. 75,000 received from a father under the new tax regime when filing ITR2. The user is seeking guidance on the correct section to declare this gift to claim an exemption. Initial advice suggests the exempt income section, but the user is unsure if selecting 'other' in Schedule EI is correct and is not seeing a reduction in tax liability.

You can show this under exempt income section

Thanks for the reply. I entered the gift amount under exempt income section (Schedule EI). But I am not seeing any reduction in my tax liability. 

In the dropdown on schedule EI, I selected 'other' option as I did not see 'gift exemption' option. Am I doing it correctly? 

Thanks for your assistance.

Please check your inbox once

Hi, which inbox? I don't see anything anywhere. Can you please share the reply here? 

Thanks.

Gift exemption and new tax regime

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