do we need to disclose the property(house purchased of more than Rs30lacs) and the gifts (monetary received of more than 5lacs) in the ITR.though both are exempt from tax , will they need to be disclosed in ITR?
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Income tax
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No declaration for HP purchase, unless 'Schedule BS' of ITR3 filled or in 'Schedule AL.'
Gifts will be declared under 'Schedule EI' as exempt income.
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