wer do we have to mention details of gift received from relative in the income tax return..
thnks.
3 Replies
Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 07 May 2012
There is no provision for showing gifts received from relatives.
Add it to your capital
Jugal Mansharamani
(c)
(83 Points)
Replied 07 May 2012
do i have to mention it in exempt income under the column others
Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 07 May 2012
No...
there is no need to show gift in income tax return.
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