I had gifted Rs. 1,00,000 to my friend though a gift deed. Understood he has to pay tax as I don't fall under relative. But my question is how Can i declare this expenses in my ITR?
1. As I am a employee & filing ITR1 regularly, Is there a provision to declare the same during my return fillings?
2. Do I need to declare to employer with supporting documents. so he can incorporate & deduct in form 16 itself. Is it possible, if so under what section I should declare?
Thanks in advance.