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?
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178293 Points)
Replied 07 August 2019
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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