13 December 2014
The exceptions to sec 56(2)(vii) contain 'any sum money' received on ocassion of the marriage of the individual is exempt fron income tax. Whether 'sum of money' is cash mode or through any banking channel or both and is there any limitations in cash mode?
Whether the money in cash can be received from an NRI?
14 December 2014
In addition to above, do get gift deed executed. There is no limit given but it will be better if the amount is received through cheque.
CAclubindia
