06 February 2021
Sir, I.t.assess cash gift received from family members in f.y.20-21. 1.dt:21-09-20 cash gift from father Rs:1,50,000/- through on bank mode 2.dt:22-10-20 cash gift from mother Rs:2 lacs through on bank mode. Question: 1.Assess gift from family members how many times one finicial year allowed. 2.any limit of gift amounts(ex:10 or 20 or 40 lacs) received in i.t.act.
CAclubindia
