banner_ad

Gift from relatives

Others 507 views 1 replies
User Avatar

Chartered Accountants
226 Points Posted on 31 December 2012

My Client received gifts from their relatives.Please suggest us where it is shown in income tax return form ITR4

Reply Share Follow
On 31 December 2012 at 12:28 Report
Replies (1)
User Avatar

Student CA IPC / IPCC
24 Points Posted on 31 December 2012

A Gift is shown under the head "Income from Other Sources" in the form ITR4. But for this purpose Relatives include only the following under sec56 :-

 

(a) spouse of the Individual;
(b) brother or sister of the individual;
(c) brother or sister of the spouse of the individual;
(d) brother or sister of the either of the parents of the individual;
(e) any lineal ascendant or descendant of the individual;
(f) any lineal ascendant or descendant of the spouse of the individual;
(g) spouse of the person referred to in clause (ii) to (vi).
 
The amount of gift is not of importance.
 
If any other information is required PM me.
Reply
On 31 December 2012 at 13:00


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details