Gift

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MOHD SHAHID (Querist)
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26 April 2015 can Rs.2lacs be given in cash to real brother or to exempted relative category as per income tax act.

CMA. CS. Sanjay Gupta (Expert)
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26 April 2015 Yes you can give Gift of any amount. Same has no tax implications. Do get a gift deed executed for Income tax Record Purpose.

MOHD SHAHID (Querist)
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27 April 2015 my question is whether gift in Cash be given of 2 lacs

CMA. CS. Sanjay Gupta (Expert)
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27 April 2015 Yes you can. There is no restrictions on the same.

Dhirajlal Rambhia (Expert)
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28 October 2021 For cash gift, It should be below 2 lakhs for not to attract sec 269ST of the act.

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