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
Thanks
28 August 2009
yes,
29 August 2009
Up to Rs.50000
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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