Gift from relatives
This query is : Resolved
Mohd Sarfaraz Latibani
(Querist)
28 August 2009
I am an Income Tax Assessee. I want to know can I receive gift from my parents in the form of cash? If yes upto what extent?They are also Income Tax Assessee.
Thanks
Thanks
Manmohan ACA, CS
(Expert)
28 August 2009
yes,
29 August 2009
Up to Rs.50000
CA CHINTAN AJMERA
(Expert)
29 August 2009
No limit. Any amt. u can receive
Ankur Garg
(Expert)
29 August 2009
No limit at all for receiving gifts from relatives. Go ahead
seema chouhan
(Expert)
29 August 2009
in cash u can except gift below Rs. 20000/- in cheque no limit.
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