Cash as gift in a single day

Originally posted by : Sandip Sadhukhan
	Cash gift received from father[ I.e, RELATIVE u/s 56(2)(vii)] exempt from tax.

can i recieve 1,00,000/- gift from father by cash not cheque in a single day

any gift that you receive from relative is exempt, no limits

yes you can receive gift in cash from father

As per INCOME TAX ACT, gift from RELATIVE is exempt under it.

Since, father is  covered under relative.

GIFT in :ANY FORM whether CASH OR CHEQUE 

is exempt under it.

WHETHER IN SINGLE DAY OR DURING THE FINANCIAL YEAR as well.