gift from mother in law
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2011
i have received a gift from my mother in law for Rs. 50000. where to write the same in itr4 and under which section the exemption has to be claimed in itr4.
thanx in advance
thanx in advance
25 May 2011
As per section 4 of income tax act 1961 in case any gift is received without adequate consideration than the asset and the income generated from the asset is clubbed with the income of the person giving the gift.
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2011
Dear Sir,
all i want to know is , since i am a receiver of the gift, the amount received is to be added in my income and in which head and also since this free is exempt from income tax to me, under which section this deduction has to be claimed and which section of itr4 form has to be filled.
all i want to know is , since i am a receiver of the gift, the amount received is to be added in my income and in which head and also since this free is exempt from income tax to me, under which section this deduction has to be claimed and which section of itr4 form has to be filled.
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