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 Threads
- Query under faceless assessment
- Purchase of business
- Refund of ITC for advance paid to overseas supplie
- Clubbing query (when gifts given to multiple fami
- Transfer Pricing Audit Upload Form 3CEB - Income T
- Only a Few Pages Indexed by Google Despite Sitemap
- Share sale by promoter of public limited company
- Individual working for a firm to take sales orders
- BIN view site not working
- Settlement of advance by customer
Related Threads
CAclubindia
