Benefit of cash loan or gift in it act

Gift is generally better if received from 'Relative"

1. Gift a better option than loan.

2. If gift rec'd from specified relatives it's tax free.

3. Donor may prepare a simple gift deed if amount of high value with acceptance of donee & signature of donor & donee.

4.Better to be online mode if gift amount  greater than 2 lacs.

5. Avoid cash if greater than 50 K