How to declare gift paid to friend under ITR1

Tax queries 93 views 2 replies

I had gifted Rs. 1,00,000 to my friend though a gift deed. Understood he has to pay tax as I don't fall under relative. But my question is how Can i declare this expenses in my ITR?

1. As I am a employee & filing ITR1 regularly, Is there a provision to declare the same during my return fillings?

2. Do I need to declare to employer with supporting documents. so he can incorporate & deduct in form 16 itself. Is it possible, if so under what section I should declare?

Thanks in advance.

 

Replies (2)
1. Not possible to disclose in ITR
2. It is not your Income so why will there be a need for you declare to your employer. You are the giver and not the receiver.

Regards,
CA. Raj Doshi
*R C D & Co.*
*Chartered Accountants*
*Understanding Entrepreneurs, Transforming Businesses*

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1. you can not show expenses


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