Cash gift
This query is : Resolved
Abhishek Roy Choudhury
(Querist)
12 March 2019
Dear Sir,
A son wants to give his mother Cash Gift of Rs. 20.00 Lacs, can he do that as there is limit of Cash transcations of Rs. 2.00 Lacs and above as per IT Act.
Thanks,
Abhishek Roy Choudhury.
A son wants to give his mother Cash Gift of Rs. 20.00 Lacs, can he do that as there is limit of Cash transcations of Rs. 2.00 Lacs and above as per IT Act.
Thanks,
Abhishek Roy Choudhury.
14 March 2019
Cash gift of Rs 2 lac or above must be avoided in terms of Section 269ST. so better to give by way of cheque.
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