• I received a gift from my sister. Shall I declare it?


I received a gioft from my sister via bank transfer.

Shall I declare it? What are the pros/cons?

If so, under what section? What details do I need to provide? Do I need her PAN number?
Asked 4 months ago in Income Tax

Not necessary to declare it. Make a gift deed and keep with you for future records 

Vidya Jain
CA, Kolkata
941 Answers
41 Consultations

4.8 on 5.0



Yes, you should declare it under exempt income. There is no tax liability on such receipt. You don't need to disclose her PAN. 

Lakshita Bhandari
CA, Mumbai
5460 Answers
539 Consultations

5.0 on 5.0

- Yes you should declare it under exempt income. There is no need of PAN. In description write specifically.

Vivek Kumar Arora
CA, Delhi
4063 Answers
338 Consultations

5.0 on 5.0

Dear Sir,


Hope you are doing well !!


Yes, you should declare tha same under the head exempt income while filing ITR.


However, there is no need to provide PAN details.


We may assist you in ITR filing.

Payal Chhajed
CA, Mumbai
5077 Answers
152 Consultations

5.0 on 5.0



1. Yes you should declare it under the exempted income & no need of her Pan number.

Karishma Chhajer
CA, Jodhpur
2387 Answers
20 Consultations

5.0 on 5.0

Gifts from relatives (Sister is covered under the definition of relative as per Income Tax Act) are not taxable under Income tax and are treated as Exempt.


Yes, you should declare all types of Incomes whether exempt or Taxable in your Income Tax return. Explicitly saying it is a matter of correct compliance and complete disclosure so can't comment upon any pros or cons.


The same is covered under 1st Proviso to Section 56(2). You need to furnish just the amount received as exempt income along with the description i.e. 'Gift received from relative'. No PAN number is not required to be furnished as of now.


Trust the above helps.

Brijendra Tripathi
CA, Lucknow
143 Answers
3 Consultations

5.0 on 5.0

No need to show such gift.

You can read more here: https://www.taxontips.com/how-to-show-gift-received-from-relative-in-income-tax-return-taxability-of-gift-received-under-income-tax/


Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement. You can even book phone consultation for further personal assistance.

Thank you.

Naman Maloo
CA, Jaipur
3791 Answers
45 Consultations

5.0 on 5.0

Ask a Chartered Accountant

Get tax answers from top-rated CAs in 1 hour. It's quick, easy, and anonymous!
  Ask a CA