Gift from relatives

This query is : Resolved 

28 August 2009 I am an Income Tax Assessee. I want to know can I receive gift from my parents in the form of cash? If yes upto what extent?They are also Income Tax Assessee.

Thanks

28 August 2009 yes,



29 August 2009 THERE IS NO LIMIT FOR GIFT FROM RELATIVES

29 August 2009 No limit. Any amt. u can receive

29 August 2009 No limit at all for receiving gifts from relatives. Go ahead

29 August 2009 in cash u can except gift below Rs. 20000/- in cheque no limit.



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