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Gift money

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(Querist)
16 August 2020 How much maximum gift money i can received from father who is not not taxable?
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CA KARAN SINGH

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CA KARAN SINGH (Expert)
16 August 2020 There is no limit in receiving a gift from the father. But always keep in mind
1. The gift received in cash should be less than Rs. 2,00,000. Otherwise, the receiver has to pay a penalty.
2. If the father's income is not taxable, then the gift should be from a genuine sources.
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