it person cash gift from mother rs:1,90,000/- f.y.21-22.but assessess it returns not filed below taxable income f.y.21-22.
question;
assessess gift transaction f.y.22-23 show in it returns allowed.
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Gift transaction present year allowed
Replies (1)
No need to declare it in different year. Even if return not filed, credit the gift amount in books and finalize it in same year of receipt.
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