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Gold holding to me and Income tax
Sir, a person has 300 grams gold. out of 300 grams 250 gram, he received as gift from his marriage 4 years ago, he file ITR-1, not shown it ITR, Question: now which documents required for 250 gram gold. pls..
Replies (6)
Gift deed from his relative donors along with invoices of purchase.
Sir marriage done 4 years ago, question -1:now possible to make Gift deed will relative ? question -2: now gift deed not possible with non-relative, so what he do? question-3: any option to show in ITR
Now there is no option to declare in ITR as gift from non relatives is exempt only at the occassion of marriage, which happened four years ago. Try to get their bills and consent letters of gifts, so that in future, it can help in case of query and/or at the time of sell.
Thanks Sir
You are welcome.
Gold holding to me
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