Showing posts with label Gift. Show all posts
Showing posts with label Gift. Show all posts

Do I need to pay tax on income earned on gift amount?

I have received Rs.15 lakhs from my father who is filing his income tax Return (ITR) regularly and paying tax on his income. Money so received was invested somewhere and earned an interest income around Rs.2,25,000/-.
Do I have to show such amount (i.e. Rs.15 lakhs) in my ITR?
Do I need to discloses & file my ITR for interest if don't have any other income except interest, I understand that  income up to Rs.2,50,000/- is not taxable. 

E‑Way Bill Update 2026: Mandatory ‘Ship‑to GSTIN’ & New Voluntary Closure Facility Explained

  The GSTN Advisory dated 20 May 2026 introduces two significant functional enhancements in the E‑Way Bill (EWB) system aimed at improving d...