banner_ad

Gift shown in i.t.r.

Others 127 views 1 replies
User Avatar

84 Points Posted on 17 December 2020
my wife(filed i.t.r.4) give gift to my son (student) every month by cheque,

whether my wife or son have to show gift givan or received in i.t.r. (mandatory to show)

how much cash gift allow wife to son?
0 Reply Share Follow
On 17 December 2020 at 13:31 Report
Replies (1)
User Avatar

Tax consultant
5895 Points Posted on 17 December 2020
Not mandatory
but gift should be reflected on your bank account as per the proper heading
but if you're son derived income from the gift amount that income will be clubbed with your wife if you're son is minor
1 Reply
On 17 December 2020 at 15:20


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details