munish (Assistant) (93 Points)
28 December 2020I want to buy a home in Delhi .My Father Sister wants to gift Rs.15 Lakh in my saving bank account through cheques in January 2021. We will also execute gift deed.
In this question I am a nephew
My main question is ?
Q1. How to show money gift in ITR-1 from blood relatives under which section and where ? Please explain in detail
ayusmita
(Tax consultant)
(5885 Points)
Replied 28 December 2020
In EI means exempted income session you will show it
munish
(Assistant)
(93 Points)
Replied 28 December 2020
In exempted income drop down menu there is any other option. Should I show this Gifted money in any other option and in descripttion should I write (Gift from my Father Sister)? Please explain it.
munish
(Assistant)
(93 Points)
Replied 28 December 2020
In exempted income drop down menu there is any other option. Should I show this Gifted money in any other option and in descripttion should I write (Gift from my Father Sister)? Please explain it.
ayusmita
(Tax consultant)
(5885 Points)
Replied 28 December 2020
In drop down you can choose any other and write for what it is and you can show
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