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Gift limit

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(Querist)
23 August 2020 Cash gift received limit from relatives and non relatives in I.t. act.
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CA KARAN SINGH

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CA KARAN SINGH (Expert)
24 August 2020 There is no limit on receiving gifts from relatives mentioned under Explanation to 56(2)(vii). But a cash gift from relatives can be received up to Rs. 50,000.

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