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Marriage gift

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160 Points Posted on 03 November 2023
i received marriage gift of rs 2lakh from my boss...... should I show in itr?
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On 03 November 2023 at 12:36 Report
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194 Points Posted on 03 November 2023
Show in salary head and it's also taxable...bcoz employer employee relationship exit
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On 03 November 2023 at 20:38
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"Do the Right Thing...!!!"
128152 Points Posted on 04 November 2023
Yes, You can show the amount in ITR.
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On 04 November 2023 at 22:41
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CFO- at NHTF
58280 Points Posted on 04 November 2023
Gift on account marriage, gift from relative are exempt from tax.

Is it cash or wire transfer?
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On 04 November 2023 at 22:55
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Profession Business
28207 Points Posted on 05 November 2023
Rs. 2 lakh in cash .. it's a very difficult disclosure. in kind it's better.
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On 05 November 2023 at 12:52
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Practising CA
8954 Points Posted on 06 November 2023
Gift received on account of marriage of an individual from any person - whether relative or non relative is tax exempt irrespective of its value. Please refer Sec 56 (2) (x) of the income tax act
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On 06 November 2023 at 01:36
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Profession Business
28207 Points Posted on 06 November 2023
Read sec 56(2) (x) here it is not blood relation. It is taxable.
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On 06 November 2023 at 07:47
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Practising CA
8954 Points Posted on 06 November 2023

Gifts received on the occasion of marriage by the newlywed couple are tax-exempt. The exemption is not limited to gifts received from relatives only. Therefore gifts received from friends or non-relatives on the occasion of marriage will also not be taxable in the hands of newlywed couple.

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On 06 November 2023 at 08:00


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