30 August 2011
SIR, CAN I MAKE A CASH GIFT OF Rs.50,000/- to may friend from my cash book? IS it necessary to make gift only by account payee cheque if sum exceeds Rs.20,000/-
30 August 2011
gift made in cash may be subject to selective assessment by department, where cross verification may be initiated, so bank entry is preferred.
CAclubindia
