New ITR2 section Exempt income doesn’t have provision to report gift from relatives anymore. Where to report it?
Pls read the question. You didn’t answer the question. Did you see the new ITR2 section Exempt income? There is no option in Other exempt income to write anything
You are right, I missed your exact point earlier.
In the new ITR-2 utility, there is no separate free-text/narration field to write “gift from husband” under Schedule EI. The notified ITR-2 only shows “Other exempt income” as an amount field, not a description field; the “Nature of income” field is available separately only for DTAA income.
So, for a gift from husband, there is no separate schedule/field where it must be reported if the utility does not provide such an option. It should not be shown under “Income from Other Sources,” because gift from spouse is outside taxability under section 56 gift provisions, as spouse is covered within “relative.”
Therefore, practically:
Do not report it anywhere if the new ITR-2 utility does not provide a suitable field.
Keep the bank trail and gift deed/confirmation for records. Also note that if the gifted amount is invested and income arises from it, clubbing provisions may apply in the husband’s hands.