Gifts in cash

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ravi (Querist)
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08 April 2025 Dear All,
Kindly let me know, if my wife received Rs.2,00,000/- in cash from my father (Her father-in-law) will it be taxable or not.
Thanking you
Regards

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 April 2025 Section 269ST prohibits any person to receive an amount of Rs.2 lakh and above in cash:

In aggregate from a person in a day, or
In a single transaction, or
In respect of transactions relating to one event or occasion from a person.

So any amount less than Rs. 2 lakhs received by DIL from her FIL will be tax exempt, but clubbing provision u/s. 64 will be applicable.

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ravi

ravi (Querist)
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08 April 2025 Sir if the amount is 1.75lakh, it will taxable or not

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 April 2025 Not taxable. The gift would be exempt under sec 56(2)(x) IT act; as FIL being 'Relative' to DIL.
But the income earned (if any) over the gifted amount by DIL; would be taxable in the hands of 'Donor' under the clubbing provision.

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 September 2025 Good luck..

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