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query about ITR
A divorcee bride will receive total 20lakhs from her Father-In-Law & Mother-In-Law's account by cheque, as gift for divorce(supported by gift deed). Is it exempted to her and how to show this 20lakhs in her ITR?
Replies (4)
Any gift to Daughter in law (Not Divorcee) from FIL or MOL is tax exempt.......
Or any Lumpsum Alimony received at the time of divorce is tax-exempt under IT act......
So, make your stand clear during documantation, because any intermixing will create litigation.
Thank you sir
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