30 July 2017
Only report if in excess of Rs.50,000/- from non relative under IOS. There is no specific exemption u/s 10. It falls under u/s 56 only if in excess of 50,000 from non relative for the entire amount. If below Rs.50,000 from non relative or any amount from relative (as defined in this specific section) it is a capital receipt. Normally under Schedule EI you report whatever is u/s 10 and agriculture income etc.
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