Accepting Gift in Cash for Rs 100,000

Yes, U just need to make a gift deed and preserve it.

Yes you can accept Cash Gift, but you need to execute a gift deed for the same.

Regards,

Devendra K

you can accept, but the donee must have to maintain all cash flow records to establish the gift, otherwise both have to face trouble. 

yes , you can accept

Thanks for the reply. Just a quick follow up question - Should Gift Deed be done on Stamp Paper ? If so what is the amount of Stamp Paper that needs to be purchased ?

Will this Gift Deed Format Work  ? https://www.vakilno1.com/forms/gift/Gift-10.htm

Thanks

THE GIFT DEED IS TO BE EXECUTED ON A 100 RUPEES STAMP PAPER. THE FORMAT MENTIONED BY YOU IS CORRECT.

REGARDS,

DEVENDRA K

Yes u can accept but only to make gift deed is not sufficient. you have to prove credit worthiness of doner nd onus to prove is upon assessee otherwise section 69 will attract

Yes you can accept and executing a gift deed on a rs. 100 stamp paper but make sure the credit worthiness of donor.

Gifts recieved in cash for more than 50,000 is taxable , if recieved in cash  , but if the same is recieved in kind from the relatives it is no way taxable..............................

yes bdy you can accept gift. nd it ll not taxable........

Each and every gift need to execute Gift deed or not ??