Cash loan & gifts

Raja Babu (26 Points)

21 April 2020

how much amount can take from mother in cash as per IT act as gift and loan?

( for business purpose)

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4 Replies

rama krishnan (12244 Points)
Replied 22 April 2020

Loan amount - up-to 20k
gift - up-to 2 lakhs

1 Like

Raja Babu (26 Points)
Replied 22 April 2020

Gift received as a cash amount 200000 per year need to show in IT return?

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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 22 April 2020

Yes... It will be shown in ITR.

Sejal Patel (2 Points)
Replied 06 December 2021

You can get a payday loan. I recently get a payday loan from https://easyqualifymoney.com/ for some personal expenses.

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