Dear Sir/Ma'm
Is there are any ceiling on receipt of gift in form of cash or transfer in bank account from relatives?
Is it necessary to take gift from relative via NEFT, Account payee cheques or any other electronic clearing mode?
Is it compulsory to make gift deed in case of relative?
1 Replies
Kapadia Pravin
(17259 Points)
Replied 02 February 2021
There is no ceiling on Gift amount from relatives as defined . Better to take gif by NEFT or any other electronic mode. Better to keep Gift deed.
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