09 June 2010
hi. my mother want to give me cash gift of rs 500000 for puchase of flat . i want to know ,can she give me gift in cash . or shae has to give the same through DD or Cheque. what is as per rule
09 June 2010
If your mother files return make sure she has that much cash in file. Still better to make through cheque or DD as it will reflect in your Bank statement. Also make sure to prepare a gift deed, just to make it safe.
CAclubindia
