Gift or other exempted receipts (LIP maturity proceeds)
This query is : Resolved
09 August 2023
Whether it is mandatory to fill in ITR the gift received and other exempted receipts like maturity-proceeds of LIC policies etc. ?
09 August 2023
ITR filing for LIC maturity & gift/s from non-relatives need to be disclosed to avoid any future query.
09 August 2023
Whether these receipts are to be shown in the 'Exempted Income" column ? And what about Gifts from relatives ?
09 August 2023
Gifts from relatives and all other exempted incomes are to be declared under Schedule EI.
While such taxable income under Schedule OS .... or any other respective schedules.
While such taxable income under Schedule OS .... or any other respective schedules.
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11 September 2024
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