My wife received marriage gift from her father

No its not necessary in that case. But now a days it's advisable to file the return

No.deductions. These are exempt.

But sir pl keep in mind that don't show it under exempt income too. Otherwise it will be under compulsory scrutiny.

Do u want me to.file the return

Dear Sir,

This amount is exempt from the income tax. Further, even if she have received gifts from other friends/relatives on the occasion of marraige, the same is also exempt.

You have to disclose the gift amount in her ITR under exempt income section.

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

Dear Sir,

Which deduction you are talking about. The entire gift is exempt from income tax.

Please feel free to call/ revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

It is must to file income tax return if you have exempt income in excess of Rs. 5,000/- and hence it is advisable to file return and show this as gift income which is exempt form tax.

Hi

The gift received is exempt from tax. However, she will still have to file a return of income and declare the amount of gift under exempt income.

Regards

Keerthiga Padmanabhan

No need to file It Returns. Gift at the time of marriage are exempt and received through father is exempted as per Income Tax Act.

Hello Sir,

The entire money received by your wife from her father is taxfree and hence is not liable for tax.

But on a safer side it is advisable to prepare a Gift deed for your records and also file her Income Tax Return.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

This query seems to be addressed to another expert.