Where fill cash gift entries in ITR

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1. Cash gifts from husband for more than 2 lakhs in an year will be liable for penalty u/s. 269ST IT act. Same if both gifts were received from a Son.
2.  A. otherwise not taxable.

         B.  Exempted part in Column 'Exempted Income'

          C.  Always advisable. 

Originally posted by : Dhirajlal Rambhia
	Cash gifts from husband for more than 2 lakhs in an year will be liable for penalty u/s. 269ST IT act. Same if both gifts were received from a Son.  A. otherwise not taxable.          B.  Exempted part in Column 'Exempted Income'           C.  Always advisable.

As you said that Husband is giving above 2 lakh amount, then tax will be taken but if we show different events of Husband, then still will amount (1.5L + 1.9L= 3.4L) be the taxable ?

If given through banking channel, not taxable....

For your Income Tax Return (ITR), the placement of cash gifts depends on whether they are taxable or exempt based on the source and amount:

• Taxable Gifts: Enter cash gifts from non-relatives exceeding ₹50,000 in total under "Schedule OS" (Income from Other Sources) in the specific row for "Income chargeable u/s 56(2)(x)."

• Exempt Gifts: For transparency, report tax-free gifts (from relatives or for your marriage) under the "Exempt Income" section (Schedule EI) by selecting the category for "Any other exempt income."