dear sir,
i got money transfer (Gift) in my bank account of Rs. 5 Lakh from my father-in-laws.
is it taxable?
If not, then where will be show in ITR 1
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Gift received from father in law
Replies (3)
You have show exempt incomeu/s 56 in form itr2
Yes exempt
Sir there is a option of exempt income in ITR 1. can we show there.
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