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gift recived from friends
पूरे साल के दौरान शादी एवं जन्मदिन की वर्षगांठ पर मिली Gift कोइनकम टैक्स रिटर्न में इनकम फ्रॉम अदर सोर्सेज के रूप में दिखाना जरूरी है . यदि यह रकम ₹48000 है
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Not under taxable income.......... but gift received on the occasion of Marriage, and on all other occasions if aggregate below 50 thousand, are declared under 'Exempt Income'
On the occasion of marriage all gift received in cash( exceeds Rs 50000) or in kind is exempt it is shown in under schedule EI in ITR.
On the occasion of other than marriage gift received is taxable when it exceeds Rs 50000 I. E. Upto 50000 is exempt. If it is taxable then we will show under other source income in ITR.
Gift received from relative is also exempt. There is no limit.
The definition of relative is defined u/S 56(2) of the Income tax.
In your case gift is less than 50000. It is mandatory to show in ITR under EI schedule not show in other schedule.
On the occasion of other than marriage gift received is taxable when it exceeds Rs 50000 I. E. Upto 50000 is exempt. If it is taxable then we will show under other source income in ITR.
Gift received from relative is also exempt. There is no limit.
The definition of relative is defined u/S 56(2) of the Income tax.
In your case gift is less than 50000. It is mandatory to show in ITR under EI schedule not show in other schedule.
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