Gift From Family Declaration?

Hello! I was wondering if a gift from family (which is tax exempt) needs to be put in your income tax return? Same question about inheritance? If you receive something from your grandfather, it is supposed to be tax free - but do you put this as part of your exempt income or is this not considered income at all and need not be reported?

@Quicko can you help, please.

Needs to be reported/declared as except income in ITr

Hey @Kiyoto_Kai,

Yes, these incomes are exempted from taxes, however, you need to report them in Schedule EI (Exempt Income) while filing your ITR.