How to disclose Gifts received in Income Tax Return (ITR)

Share
Share This Thread
  1. Thiyagu

    Thiyagu New Member

    Is there any provision in ITR to include gifts to relatives
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, gifts received from relatives is required to be disclosed in the Income tax return.

    Gifts received are treated as exempt income and are required to be disclosed in the income tax return.

    The procedure for disclosing the same has been mentioned here - http://www.charteredclub.com/exempt-income-itr/
     
  3. Thiyagu

    Thiyagu New Member

    Thank you for the reply.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
tax on undisclosed income from sale of property Income Tax Nov 16, 2016
What if I do not disclose F&O Loss in ITR? Income Tax Sep 23, 2016
How to disclose Nifty Trading Profit in ITR 4? Income Tax Aug 15, 2016
Share Trading Profit not disclosed by Salaried Income in ITR Income Tax Aug 6, 2016
Tax on Maturity Amount of RD not disclosed earlier Income Tax Jul 26, 2016