Marriage gifts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 May 2010
Dear member
How to show marriage expenses on income tax return. how to capitalise the jewellary gifts on ITR. How parents show the gift of jewellary and others on income tax return and how the daughter show that on her ITR.
Thank You
How to show marriage expenses on income tax return. how to capitalise the jewellary gifts on ITR. How parents show the gift of jewellary and others on income tax return and how the daughter show that on her ITR.
Thank You
04 May 2010
Before preparing the ITR u should prepare a computation of Income based on an income /expenditure or P & L A/c and a Statement of Assets and Liabilities or Balance Sheet of the assessee whatever u wish to disclose should figure in these statements.Supporting documents should be available and produced if called for by the AO
04 May 2010
Normally noone shows it in ITR... but as u have query the answers are :
1. Marriage expense are not to be shown anywhere in ITR.
2. Parents dont need to show in ITR..If they have received in Marriage, better show it as receved by daughter as it is exempt ad non taxable.
3. If the gift is in cash than if the AO ask in future than have to provide document signed by the person who has given gift..
1. Marriage expense are not to be shown anywhere in ITR.
2. Parents dont need to show in ITR..If they have received in Marriage, better show it as receved by daughter as it is exempt ad non taxable.
3. If the gift is in cash than if the AO ask in future than have to provide document signed by the person who has given gift..
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