Money gifted from father


RAKESH UPADHYAY (SR.CLEARK)     12 May 2019

RAKESH UPADHYAY
SR.CLEARK 
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where to show money received as a gift from father in ITR ?

Saurav Bhattacharya   12 May 2019

Saurav Bhattacharya

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its expemted from tax. so need to show

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GAGAN AHLUWALIA   13 May 2019

GAGAN AHLUWALIA

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it can be shown as exempt income in column of income from other sources

avater

RAKESH UPADHYAY (SR.CLEARK)     13 May 2019

RAKESH UPADHYAY
SR.CLEARK 
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thanks

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Zeal Bangdiwala (Partner at N. Gamadia & Co.)     13 May 2019

Zeal Bangdiwala
Partner at N. Gamadia & Co. 
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NO need to show gift received from father, but make sure that the same is received in cheque and if the amount is huge then better prepare a gift deed.

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Utpal Das (owner)     13 May 2019

Utpal Das
owner 
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Safe to make Gift Deed, with declaration under schedule Exempted Income of ITR.

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RAKESH UPADHYAY (SR.CLEARK)     15 May 2019

RAKESH UPADHYAY
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thaks to all


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