Varinder (Accounts Professional B.Com. MBA) (49 Points)
26 March 2019DEAR SIR / MADAM
PLEASE ADVISE ME DETAILS AS MY MARRIED SISTER LIVING IN ABROAD AND SEND A MONEY TO HER MOTHER IN CASH / FOREIGN CURRENCY TO MY MOTHER ACCOUNT GIFT / MAINTENANCE WE CAN SAY .... AS WE KNOW THIS INCOME IS EXEMPT FROM TAX I WANT TO KNOW IS ANY ANY LIMIT IN IT .
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178136 Points)
Replied 26 March 2019
As far as Income tax act is concern, cash worth Rs. 2 lakhs or more is restricted u/s. 269ST; but also check foreign currency restriction as per RBI rules.
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 26 March 2019
CAclubindia
