Gift transaction in 19-20

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This query is : Resolved

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This discussion concerns cash gifts received from relatives during the financial year 2019-2020. The individual received several cash gifts totalling over £600,000 from various family members, including siblings and a brother-in-law. The core question is whether these gifts are permissible under income tax laws and if they are exempt or taxable.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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11 November 2020 One of female I.t. Assess cash mode gift received from relatives in f.y.19-20.
1.dt:10-07-2019 cash mode gift from brother Rs:1,50,000/-
2.dt:17-07-2019 cash mode gift from mother Rs:1,60,000/-
3.dt:16-08-2019 cash mode gift from eldersister Rs:1,90,000/-
4.dt:20-08-2019 cash gift from small sisterRs:1,60,000/-
5.dt:20-10-2019 cash mode gift from brother in law(husband brother)Rs:1,30,000/-
Question:
Assess above all cash mode gift transactions one finicial year allowed in I .t.act and all gifts exempt or taxable.