Is Filing Income Tax Return Is nessesary if only GIFT income
( of 11 Lakh ) in form of Cheque Received from Grandfather , No other Income during Financial Year 2019-20 ,
If Yes Which ITR Form is to be used ?
2 Replies
Debiprasad Jana
(295 Points)
Replied 18 June 2020
In the case of gift , you do not need to file your income tax return. bcz your grand father pay you by cheque and this amount already taxed by your grandfather. Gift under relatives is totally exempted. see section 56 of income tax act 1961.
Recent Topics
- Cp chod doob zoom vo book book
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
- How to reverse wrong transaction payment in phonep
- Paytm wrong transaction
- How to reverse wrong transaction payment in phonep
Related Threads
CAclubindia
