Gifts Deed
MAYUR MINAJGI (54 Points)
04 January 2023
Is there any limits to give n take cash Gifts....??
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178099 Points)
Replied 04 January 2023
Yes, need to be below Rs. 2 lakhs...
According to Section 269ST of IT act, no person can receive an amount of Rs 2 lakh or more in aggregate from a person in a day in a single transaction; or, in multiple transactions relating to one event or occasion from a person.
CA Susheel Gupta
(CA, LLB)
(72 Points)
Replied 05 January 2023
In my opinion there is no monetary cap on receipt of gift in cash. Need to take care of source.
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