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Gift from relatives

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(Querist)
28 August 2009 I am an Income Tax Assessee. I want to know can I receive gift from my parents in the form of cash? If yes upto what extent?They are also Income Tax Assessee.

Thanks
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
28 August 2009 yes,
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
29 August 2009 Up to Rs.50000



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Mukund

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Mukund (Expert)
29 August 2009 THERE IS NO LIMIT FOR GIFT FROM RELATIVES
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
29 August 2009 No limit. Any amt. u can receive
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Ankur Garg

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Ankur Garg (Expert)
29 August 2009 No limit at all for receiving gifts from relatives. Go ahead
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seema chouhan

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seema chouhan (Expert)
29 August 2009 in cash u can except gift below Rs. 20000/- in cheque no limit.

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