Hi I had received gift of Rs. 1.5 lacs from my sister for purchase of house. How to show the same in income tax return. I understand no tax shall be levied on the same.
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Gift in income tax return
Replies (1)
You can show the gift received under the Schedule Exempt Income. (Schedule EI)
Depends on the ITR your are filing.
Regards,
Devendra Kulkarni
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