Cash gift limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 November 2016
Dear Experts,
Can we pay Rs. 1 Lakh cash for gift in blood relation weather it will attract the disallowance or not,
Regards
Anuj jeswani
Can we pay Rs. 1 Lakh cash for gift in blood relation weather it will attract the disallowance or not,
Regards
Anuj jeswani
11 November 2016
No dis allowance, cash gift of 1 lac can be made to blood relatives.
11 November 2016
cash gift to relative as per section 56 of income tax act is allowed.
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