https://www.taxtmi.com/forum/issue?id=111016 Gift from a relative is treated as exempt income; the taxpayer asked whether to disclose the receipt in the ITR and whether a plain paper gift deed suffices. The adviser recommended executing a gift deed and depositing the cash in a bank so the deed can be produced as evidence of the gift and source of funds, noting the ITR lacks a specific "Exempted Income" head. en-us Mon, 10 Oct 2016 15:42:05 +0530 Thu, 23 Jan 2025 15:56:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111016 Gift from a relative is treated as exempt income; the taxpayer asked whether to disclose the receipt in the ITR and whether a plain paper gift deed suffices. The adviser recommended executing a gift deed and depositing the cash in a bank so the deed can be produced as evidence of the gift and source of funds, noting the ITR lacks a specific "Exempted Income" head. Discussion-Forum Income Tax Mon, 10 Oct 2016 15:42:05 +0530 https://www.taxtmi.com/forum/issue?id=111016