Two Gift transactions allowed
This query is : Resolved
Quick Summary
Kollipara Sundaraiah
(Querist)
05 June 2022
Sir,
It assessee cash gift from brother rs:10 lacs after cash gift to son rs:10 lacs pay same date through on online mode dt:20-11-21.
2.another date :20-03-22 cash gift from brother rs:10 lacs after cash gift to daughter rs:10 lacs pay same date through on online mode.
Question:
Assessess above mentioned two gift receipt and payment transactions one financial year accepted in it act.
It assessee cash gift from brother rs:10 lacs after cash gift to son rs:10 lacs pay same date through on online mode dt:20-11-21.
2.another date :20-03-22 cash gift from brother rs:10 lacs after cash gift to daughter rs:10 lacs pay same date through on online mode.
Question:
Assessess above mentioned two gift receipt and payment transactions one financial year accepted in it act.
CA Rashmi Gandhi
(Expert)
06 June 2022
There is no restriction of number of gift transactions made during the year. You can gift number of times in a year.
Message likes :
3 times
06 June 2022
YES, agreed with the expert. Moreover the same is allowed when gifted on same day/s. Need to be through any banking channels.
Message likes :
2 times
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