Gifts Deed
MAYUR MINAJGI (54 Points)
04 January 2023MAYUR MINAJGI (54 Points)
04 January 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171169 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.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)