Cash Gift above Rs 50,000 to Relative

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R K Mani (Querist)
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30 November 2019 What is the procedure for providing a cash gift to Brother and Sister above 50,000. I am referring to documentation involved that will be acceptable to tax authorities

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 November 2019 Cash gift to relative should not be 2 lacs.and more. Have confirmation letter that's enough.

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R K Mani

R K Mani (Querist)
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30 November 2019 thank you Sir. are there any limits if it is a bank transfer from NRE account?

Puja Sharma

Puja Sharma (Expert)
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30 November 2019 For future reference, if the gift amount is more than Rs. 50,000/-, its better to execute a gift deed. The same should be on stamp paper and notarized.

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 November 2019 No limit for NRE transfer. Stamp paper required only for gift of immovable property.

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