relative

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can I receive gift from relative in cash?
Replies (4)
it depends on the amount that you are receiving. though gift is exempt transaction there is a penalty for violating section 269ST.

this section prohibits receiving cash more than 2,00,000 in a day per person or in relation to single transaction or event or occasion.

hence you can receive cash less than Rs 200000
Yes I agreed to Mr Pavan Kumar.,

You can receive less than 2lakhs as per Rule...
Also check out the Tax liability and Relative definition as per income tax Act...
perfect
so upto 200000 I can receive right ? from a single person in a year


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