Filling ITR

[rishi]

If any of my friend or non-blood relatives gift me shares of 10 lakhs or more on zerodha then what is the procedure to file ITR and how much tax should i expect to be paid

 

[CAKaushik]

If you receive gift of Shares & Securities in excess of Rs. 50,000/- from a single person, on any occasion other than your marriage, then the entire value of such gift is subject to tax under "Income from Other Sources" u/s 56(2)(x) of the Income Tax Act, 1961

 

[_quest_]

If you receive gift of Shares & Securities in excess of Rs. 50,000/- from a single person, on any occasion other than your marriage, then the entire value of such gift is subject to tax under "Income from Other Sources" u/s 56(2)(x) of the Income Tax Act, 1961

What if the amount of shares received in gift is less than 50000?
And how is the amount of shares calculated?

 

[Andy]

i am earning 20k per month, can i file ITR? if yes than tell me the process so i can do myself

 

[Tax with Ria]

What if the amount of shares received in gift is less than 50000?
And how is the amount of shares calculated?

If it is so, then you're not taxed under gifting provisions until you sell the shares.

 

[Tax with Ria]

i am earning 20k per month, can i file ITR? if yes than tell me the process so i can do myself

No need to file ITR as you fall under basic exemption limit.

 

[Andy]

No need to file ITR as you fall under basic exemption limit.

I want to file NIL ITR whats the process

 

[Tax with Ria]

I want to file NIL ITR whats the process

Get your PAN registered in e filing portal.
Click on the e-filing option. Enter the income/ deduction details. Now your Income tax will be automatically computed and it will display that you have no tax liability. Submit your return to the income tax department and post your ITR-V to CPC Bengaluru / E-Verify the ITR to complete the e-filing process

 

[Andy]

Get your PAN registered in e filing portal.
Click on the e-filing option. Enter the income/ deduction details. Now your Income tax will be automatically computed and it will display that you have no tax liability. Submit your return to the income tax department and post your ITR-V to CPC Bengaluru / E-Verify the ITR to complete the e-filing process

Thanks for help

 

[Gunn]

i am earning 20k per month, can i file ITR? if yes than tell me the process so i can do myself

I think you should fill Nil ITR it will help you take loans for future purpose

 

[Andy]

I think you should fill Nil ITR it will help you take loans for future purpose

thank you