Chartered Accountant
12739 Points
Posted on 14 March 2020
gift received from the brother is EXEMPT u/s 56(2)(x) AS the same is received with relative.
AND as per Strictly interpretation of Sec 139(1) , A person is required to filed his Return of Income if His income exceeds the BASIC EXEMPTION LIMIT before allowing him any exemption u/s 54 series and deduction u/c VI-A
Conclusion - Not required