Gift Received in Cash
This query is : Resolved
11 September 2009
Last year I have received 5 lakhs as a gift from my mother in cash.I want to know whether gift received in cash is accepted under Income Tax or Not?
Thanks
Thanks
11 September 2009
Yes it is accepted.
12 September 2009
can be accepted. There is no limit so far as the gift is received from the relative.
12 September 2009
no limit for gift from relatives
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