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money received From Mother

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Accountant Assistant
21 Points Posted on 24 August 2018
Amount received From Mother 3 lakh how should i show them in return as a loan or as a gift... Which is beneficial for me
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On 24 August 2018 at 18:39 Report
Replies (3)
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Currently working on improving my skills
2539 Points Posted on 24 August 2018
Dear Sir,
If the amount is gift recieved from mother the ln same will get exempt from tax
as Mother is treated as relative under Income tax act and gift recieved from any relative is exempt in the hand of receipient
58 Reply
On 24 August 2018 at 18:52
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867 Points Posted on 24 August 2018
gift received from any relatives is exempt from tax. kindly show it in schedule EI
11 Reply
On 24 August 2018 at 20:01
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CA
609 Points Posted on 24 August 2018
I agree with Vakshali jain
6 Reply
On 24 August 2018 at 20:01


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