Taxable income ?

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accountant
461 Points Posted on 08 March 2020
if individual salary person received mony from other person of rs 100000.where he show at the time of ITR filling.

this is not a income

it is taxable or not if yes where he show in ITR
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On 08 March 2020 at 05:24 Report
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Quick Summary
This discussion clarifies whether a £100,000 received by an individual, who is a salaried employee, from another person is considered taxable income. It's generally not treated as income if it's an unsecured loan and the individual's total annual income is less than £50 lakh, meaning it doesn't need to be declared on the Income Tax Return (ITR) for salaried filers.

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CFO- at NHTF
58280 Points Posted on 08 March 2020
Why it is received?

If there is reasonable cause & proof then you may ignore it ..
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On 08 March 2020 at 08:48
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"Do the Right Thing...!!!"
128157 Points Posted on 08 March 2020
Where he show at the time of ITR filling...??
- Give more details of amount and reason...

this is not a income...
- then what?

it is taxable or not if yes where he show in ITR...


Elobrate with more details...
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On 08 March 2020 at 10:00
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accountant
461 Points Posted on 08 March 2020
Unsecured loan taken from other individual
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On 08 March 2020 at 10:53
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"Do the Right Thing...!!!"
128157 Points Posted on 08 March 2020
If unsecured loan then show the balance in unsecured loan...
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On 08 March 2020 at 11:26
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CFO- at NHTF
58280 Points Posted on 08 March 2020
But salary category is not bound to disclose loans if annual income less than 50lacs
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On 08 March 2020 at 12:39
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Consultant
1891 Points Posted on 08 March 2020

No need to report the unsecured loan.

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On 08 March 2020 at 12:48
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"Do the Right Thing...!!!"
128157 Points Posted on 08 March 2020
Yes... If salaried filing then not required to show in ITR...
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On 08 March 2020 at 13:14
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CFO- at NHTF
58280 Points Posted on 09 March 2020
The question is for salaried Filing only
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On 09 March 2020 at 20:38
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"Do the Right Thing...!!!"
128157 Points Posted on 09 March 2020
Well...

Yes... If salaried filing then not required to show in ITR...
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On 09 March 2020 at 21:01
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17269 Points Posted on 09 March 2020
Hope you received Rs 100000 by way of cheque from that other person.

Not to be disclosed in the ITR filing by you.
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On 09 March 2020 at 23:38
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Chartered Accountant
12739 Points Posted on 10 March 2020

not required to disclose 

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On 10 March 2020 at 22:18

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