https://www.taxtmi.com/forum/issue?id=120418 A cash gift from a sister qualifies for the statutory gift exemption applicable to specified relatives and is not treated as taxable income when conditions for the relative-based exemption are met. Even if exempt, the receipt should be disclosed in the income tax return using the designated schedule for exempt income (Schedule EI) to ensure proper compliance and transparency. en-us Wed, 03 Sep 2025 09:47:15 +0530 Thu, 04 Sep 2025 12:39:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120418 A cash gift from a sister qualifies for the statutory gift exemption applicable to specified relatives and is not treated as taxable income when conditions for the relative-based exemption are met. Even if exempt, the receipt should be disclosed in the income tax return using the designated schedule for exempt income (Schedule EI) to ensure proper compliance and transparency. Discussion-Forum Income Tax Wed, 03 Sep 2025 09:47:15 +0530 https://www.taxtmi.com/forum/issue?id=120418