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relative

Hitesh Gupta (75 Points)

30 March 2018

can I receive gift from relative in cash?

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pavan kumar (same as above) (22 Points)
Replied 30 March 2018

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

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RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 30 March 2018

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...

Rohit jain (Chartered Accountant / Company Secretary) (221 Points)
Replied 30 March 2018

perfect

Hitesh Gupta (75 Points)
Replied 30 March 2018

so upto 200000 I can receive right ? from a single person in a year

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