I want to buy home in Delhi. My Bhua wants to gift Rs.15 Lakh in my saving bank account through cheques in January 2021. We will also execute gift deed.
My main question is ?
Q1. Is my gifted money is exempt from Income tax?
Q2. How to show gift in ITR-1 from blood relatives under which section and where ? Please explain in detail
Gift from Father Sister is not taxable as per my internet study on Gift Law act.
Please check it again and my Question Number 2 is not answered yet. Please answer it if possible
Gift from Father Sister is not taxable as per my internet study on Gift Law act.
Please check it again and my Question Number 2 is not answered yet. Please answer it if possible
Shaswat initial support private limited
Ahmedabad
CS
View Details
T R SOOD & CO
New Delhi
CA Inter
View Details
CAclubindia
