Gift received from parents
sumeet (elelctronic) (108 Points)
10 June 2023under what section claim tax exemption in ITR
rama krishnan
(12244 Points)
Replied 10 June 2023
sabyasachi mukherjee
(27732 Points)
Replied 11 June 2023
SHIRISH S S
(Proprietor)
(1038 Points)
Replied 11 June 2023
Your Parents income must be taxed since the GIFT given to you is 50L. Tax is paid on your Parents income. 50L gift is out of that income which already taxed . So there cannot be double taxation on same income.
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