Gift transactions allowed
This query is : Resolved
14 November 2023
sir,
it person cash Gift transactions different dates detailes mentioned below f.y. 22-23
1.Dt:10-05-22 Cash gift from Mother rs:190000/- through on cash mode
2.Dt:25-05-22 Cash gift from Brother rs:180000/-through on cash mode
3.Dt: 17-06-22 cash gift from Husbands brother rs:170000/- through on cash mode
4.Dt: 24-06-22 cash gift from Mothers brother(uncle) rs:160000/- through on cash mode
Query:
Assessee above gift transactions from relatives allowed in it act.
it person cash Gift transactions different dates detailes mentioned below f.y. 22-23
1.Dt:10-05-22 Cash gift from Mother rs:190000/- through on cash mode
2.Dt:25-05-22 Cash gift from Brother rs:180000/-through on cash mode
3.Dt: 17-06-22 cash gift from Husbands brother rs:170000/- through on cash mode
4.Dt: 24-06-22 cash gift from Mothers brother(uncle) rs:160000/- through on cash mode
Query:
Assessee above gift transactions from relatives allowed in it act.
15 November 2023
It's allowed in IT Act as cash gift from each relative within 2 lacs.
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