Gift
Querist : Anonymous
PLEASE REPLY:
1)MY CLIENT WANT TO GIVE HER HUSBAND A GIFT OF RS. 5 LAKHS IN CASH. IS IT POSSIBLE TO DEAL IN CASH OR MANDATORY TO GIVE GIFT BY CHEQUE.
2) CASH GIFT IS ALLOWABLE UPTO HOW MUCH AMOUNT.
3) IS IT TAXABLE OR NON-TAXABLE IN THE HAND OF HUSBAND.
THANK YOU
2.no limit as both coevered in definition of relatives
3.non taxable
Querist : Anonymous
IT MEANS CASH CAN BE TAKEN. ONES AGAIN THANK YOU VERY MUCH ALL OF YOU.
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