Is gift received in other than blood relation taxable. If yes then where is it shown in ITR 4. Please send the schedule name.
Menu
Gift received
Replies (2)
If the gift is not recived from specified person or on specified occassion and more than 25000/-, it is an income (income from other sources), as per Section 56(v) of the IT Act and has to be delat accordingly.
Yes, I agreed with Mr Rajesh Kumar
. List of specified person is mentioned U/s 56 (v)
Recent Topics :
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
Related Topics :
CAclubindia
