1)I.t. assess house expenses drawings 5 lacs one finicial year allowed.
2)a person(son) cash gift from mother
160000,180000 two different dates received one finicial year allowed.
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drawings and gift
Replies (2)
1. Yes allowed
2. Not allowed by cash. Gift it by cheque, or bank transfer.
I.t. assess cash on hand balance as on 31.03.2019 5 lacs in balance sheet.limit for cash on hand for I.t. act
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