GIFT TAX FOR ITR
vijeth (student) (22 Points)
10 August 2019
I have gifted my brother 10lakhs from my salary.Should he declare that in this year itr??
4 Replies
Kapadia Pravin
(17264 Points)
Replied 10 August 2019
ITR does not require such exempt Gift to be shown
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 10 August 2019
@ vijeth.,
Yes... it will be shown under ITR as exempt income...
Yes... it will be shown under ITR as exempt income...
Kapadia Pravin
(17264 Points)
Replied 11 August 2019
it's a gift and not an income at all. Nowhere to be shown
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