Gift received from my Sister is taxable or exempt

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....ift received from my Sister is taxable or exempt <br> Query (Issue) Started By: - Sreenath Dated:- 3-9-2025 Income Tax <br> Got 2 Replies <br> Income Tax<br> <br> I have received a Gift of Rs.8 lakhs ....

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....from my sister living in UK. Is the amount received taxable or exempt under any section in Income Tax.&nbsp; If it is non taxable, should i reqport in the ITR filing and if yes, where should i report ....

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....this amount.&nbsp; Please clarify. Thanks --Reply By: Rajan Kumar and associates The Reply: Gift Received from Relatives are exempt u/s 56(2)x of the Income Tax Act, 1961. You may report that Incom....

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....e in Schedule EI --- Sub-Reply By: Sreenath The Sub-Reply: Thanks for your reply. Is it compulsory to report in Schedule EI the gift received amount or is it an option only? <br>***<br> ....

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