21 August 2018
As per the rules, one cam gift to the relative any amount without any restriction. Will sec 269ST limit of Rs. 200000/- will be applicable in this case??
22 August 2018
Example - If as a father ( close relative ) u r gifting 5 Lakhs to daughter or son (blood relation) then this 5 Lakh should be from father known source of Income which is already a tax paid amount in father's hand.
Means any gift amount cash / On-line bank tr./ Cheque etc given to close repalties shall be from known source of Income.
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