Gift from relative.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2012
Dear sir,
If an individual receives a gift of Rs. 50000/- from his relative in F.Y. 2010-11.
In which schedule of ITR 4, he can show this gift?
Thanks !
If an individual receives a gift of Rs. 50000/- from his relative in F.Y. 2010-11.
In which schedule of ITR 4, he can show this gift?
Thanks !
11 February 2012
Gift received from a relative is exempted and shall not form part of the income.. there shall be no disclosure as to this in the ITR.. only disclosure is with regard to exempted income under section 10..
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2012
Whether the said gift can be show in Schedule EI (exempt income)?
11 February 2012
gift does not fall under section 10 exempt income.. as such schedule E1 for those income which are exempt under sec 10 only.. hence no disclosure is required..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Tds on building rent monthly
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
