A father has gifted the residential plot to his son ,which is to report in itr in Exempted income ,but there is no financial transaction ,then what figure to report ?
2 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 17 July 2022
Tax-free Gifts are practically not reported in ITR since it is neither taxable Income nor exempt income.
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