Cash gift
This query is : Resolved
02 August 2020
My wife gave me Rs.2, 00,000/- gift in hard cash (it was from money received from my son into her bank account from the USA) Is this amount taxable in anyone's hand, and how?
02 August 2020
Cash payment of 2 lacs and above not allowed. Equal penalty levied under section 269ST.
No tax payable on such gifts less than 2 lacs.
No tax payable on such gifts less than 2 lacs.
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