Loan convert into Gift. Reporting in Tax AUDIT REPORT 3CD

himanshu (Article) (33 Points)

04 September 2023  

In case of individual TAX AUDIT, Unsecured Loan of ₹ 5 lacs is converted into GIFT. Where should we report this transaction in Tax AUDIT report 3CB 3CD. Gift is u/s 56(2) i.e., from the relatives.