Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Gold holding to me and Income tax

01 November 2024

Sir, a person has 300 grams gold. out of 300 grams 250 gram, he received as gift from his marriage 4 years ago, he file ITR-1, not shown it ITR, Question: now which documents required for 250 gram gold. pls..

Reply
Follow
Share

6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180927 Points)
Replied 01 November 2024

Gift deed from his relative donors along with invoices of purchase.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Tapas Samadder (536 Points)
Replied 01 November 2024

Sir marriage done 4 years ago, question -1:now possible to make Gift deed will relative ? question -2: now gift deed not possible with non-relative, so what he do? question-3: any option to show in ITR

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (180927 Points)
Replied 01 November 2024

Now there is no option to declare in ITR as gift from non relatives is exempt only at the occassion of marriage, which happened four years ago. Try to get their bills and consent letters of gifts, so that in future, it can help in case of query and/or at the time of sell.

1 Like