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Cash Gift
if I want to give cash as a gift to any family member or a friend then what is tax provision related to this please help
Replies (1)
1. not taxable to family member.
2. exempt in the hand of friends till he receives RS. 50000 in a year from all together.
3. Can't gift cash more than or equivalent to RS. 200000 to family in a day else 100% penalty to receipient.
2. exempt in the hand of friends till he receives RS. 50000 in a year from all together.
3. Can't gift cash more than or equivalent to RS. 200000 to family in a day else 100% penalty to receipient.
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