Gift
This query is : Resolved
26 April 2015
can Rs.2lacs be given in cash to real brother or to exempted relative category as per income tax act.
26 April 2015
Yes you can give Gift of any amount. Same has no tax implications. Do get a gift deed executed for Income tax Record Purpose.
27 April 2015
my question is whether gift in Cash be given of 2 lacs
27 April 2015
Yes you can. There is no restrictions on the same.
28 October 2021
For cash gift, It should be below 2 lakhs for not to attract sec 269ST of the act.
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